TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Down 79.1% in May

TransAct Technologies Incorporated (NASDAQ:TACT) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 5,734 shares, a decline of 79.1% from the May 14th total of 27,486 shares. Based on an average daily trading volume, of 161,548 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are sold short.

Insider Buying and Selling at TransAct Technologies

In other news, CEO John Dillon acquired 70,902 shares of TransAct Technologies stock in a transaction dated Monday, March 16th. The stock was acquired at an average cost of $3.49 per share, for a total transaction of $247,447.98. Following the completion of the purchase, the chief executive officer owned 100,000 shares of the company’s stock, valued at $349,000. This represents a 243.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 19.24% of the company’s stock.

Institutional Investors Weigh In On TransAct Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TACT. Coldstream Capital Management Inc. bought a new stake in TransAct Technologies in the 3rd quarter valued at $58,000. Goldman Sachs Group Inc. increased its holdings in TransAct Technologies by 33.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after buying an additional 5,100 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in TransAct Technologies in the 3rd quarter valued at $151,000. Teton Advisors LLC bought a new stake in TransAct Technologies in the 3rd quarter valued at $176,000. Finally, Susquehanna International Group LLP bought a new stake in TransAct Technologies in the 3rd quarter valued at $225,000. Institutional investors own 74.46% of the company’s stock.

TransAct Technologies Price Performance

TACT stock traded down $0.34 on Friday, reaching $5.01. 115,496 shares of the company were exchanged, compared to its average volume of 59,071. TransAct Technologies has a 12 month low of $3.06 and a 12 month high of $5.70. The stock’s fifty day moving average price is $3.76 and its 200 day moving average price is $3.79. The firm has a market capitalization of $51.50 million, a PE ratio of -100.20 and a beta of 1.27.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. TransAct Technologies had a negative net margin of 0.93% and a negative return on equity of 1.56%. The business had revenue of $14.42 million for the quarter, compared to analyst estimates of $12.60 million. As a group, research analysts expect that TransAct Technologies will post -0.05 EPS for the current fiscal year.

TransAct Technologies declared that its Board of Directors has initiated a share buyback program on Wednesday, May 13th that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

TransAct Technologies Company Profile

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.