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

TransAct Technologies Incorporated (NASDAQ:TACT) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 23,905 shares, a drop of 48.6% from the September 15th total of 46,517 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 18,463 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of TransAct Technologies to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings upgraded shares of TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TransAct Technologies currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Globeflex Capital L P bought a new position in TransAct Technologies in the second quarter valued at approximately $258,000. Bard Associates Inc. acquired a new position in shares of TransAct Technologies during the 2nd quarter worth approximately $597,000. BlackRock Inc. acquired a new position in shares of TransAct Technologies during the 2nd quarter worth approximately $1,413,000. NewEdge Advisors LLC increased its position in shares of TransAct Technologies by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock worth $447,000 after purchasing an additional 47,138 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of TransAct Technologies by 3.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock worth $494,000 after purchasing an additional 5,000 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors.

TransAct Technologies Price Performance

TACT stock traded down $0.03 during trading hours on Wednesday, reaching $4.48. 11,598 shares of the stock were exchanged, compared to its average volume of 45,224. The firm’s 50-day moving average is $5.03 and its 200-day moving average is $4.58. TransAct Technologies has a 12 month low of $3.06 and a 12 month high of $6.02. The company has a market cap of $46.24 million, a price-to-earnings ratio of -112.02 and a beta of 1.25.

TransAct Technologies Company Profile

TransAct Technologies Incorporated develops and supplies transaction-based technology products and related services for specialized markets. The company designs, manufactures and supports thermal printers, print heads, software and other solutions used to produce receipts, tickets, coupons and other transaction documents.

Its products serve the gaming and lottery industries, including casino printers, ticketing solutions and systems designed to support casino operations. TransAct also provides solutions for food-service businesses, including its BOHA! ecosystem, which combines hardware, software and digital tools to help restaurants and other food-service operators manage operational tasks, food safety and compliance.

TransAct serves customers in North America and international markets through direct sales, distributors and other business relationships.