TransAct Technologies Incorporated (NASDAQ:TACT) Sees Significant Drop in Short Interest

TransAct Technologies Incorporated (NASDAQ:TACT) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 13,000 shares, a drop of 27.4% from the September 30th total of 17,900 shares. Based on an average trading volume of 25,000 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On TransAct Technologies

Several hedge funds and other institutional investors have recently modified their holdings of TACT. Bard Financial Services Inc. purchased a new stake in TransAct Technologies in the first quarter worth about $79,000. Essex Investment Management Co. LLC grew its stake in TransAct Technologies by 66.8% in the third quarter. Essex Investment Management Co. LLC now owns 36,439 shares of the technology company’s stock worth $177,000 after purchasing an additional 14,599 shares during the period. Silverberg Bernstein Capital Management LLC raised its holdings in TransAct Technologies by 2.8% in the third quarter. Silverberg Bernstein Capital Management LLC now owns 424,090 shares of the technology company’s stock worth $2,061,000 after purchasing an additional 11,700 shares in the last quarter. Connors Investor Services Inc. lifted its position in TransAct Technologies by 56.5% during the second quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock valued at $104,000 after buying an additional 9,999 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of TransAct Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock valued at $2,139,000 after buying an additional 3,821 shares in the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

TransAct Technologies Price Performance

TACT traded down $0.05 during midday trading on Monday, reaching $4.10. 20,587 shares of the company’s stock traded hands, compared to its average volume of 22,547. The stock has a market capitalization of $40.98 million, a price-to-earnings ratio of 68.33 and a beta of 1.73. TransAct Technologies has a 52 week low of $3.32 and a 52 week high of $7.97. The firm has a fifty day moving average of $4.40 and a two-hundred day moving average of $4.14.

TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. TransAct Technologies had a negative return on equity of 1.31% and a negative net margin of 0.97%. The company had revenue of $11.60 million during the quarter, compared to analyst estimates of $10.25 million. During the same quarter last year, the firm posted $0.22 earnings per share. Sell-side analysts forecast that TransAct Technologies will post -0.26 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of TransAct Technologies in a research report on Thursday, October 10th. They issued a “hold” rating on the stock.

TransAct Technologies Company Profile

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.