TransAct Technologies Incorporated (NASDAQ:TACT – Get Rating) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 24,200 shares, a growth of 23.5% from the August 15th total of 19,600 shares. Based on an average daily volume of 17,200 shares, the days-to-cover ratio is currently 1.4 days.
TransAct Technologies Trading Up 1.8 %
Shares of NASDAQ TACT traded up $0.08 during midday trading on Friday, hitting $4.59. 25,739 shares of the company's stock were exchanged, compared to its average volume of 39,635. The company has a market cap of $45.49 million, a price-to-earnings ratio of -7.29 and a beta of 1.76. The business's fifty day moving average price is $4.43 and its two-hundred day moving average price is $5.41. TransAct Technologies has a 12-month low of $3.60 and a 12-month high of $14.95.
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TransAct Technologies (NASDAQ:TACT – Get Rating) last issued its earnings results on Wednesday, August 17th. The technology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.10. TransAct Technologies had a negative return on equity of 26.17% and a negative net margin of 14.10%. During the same period last year, the company earned ($0.24) earnings per share. Equities analysts expect that TransAct Technologies will post -1.11 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
TACT has been the subject of several recent analyst reports. Barrington Research cut their price objective on TransAct Technologies from $13.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, August 18th. StockNews.com initiated coverage on TransAct Technologies in a report on Monday. They set a "sell" rating for the company.
Institutional Trading of TransAct Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of TACT. Douglas Lane & Associates LLC purchased a new stake in TransAct Technologies in the second quarter worth approximately $56,000. Jane Street Group LLC bought a new stake in TransAct Technologies in the second quarter valued at approximately $58,000. Summit Trail Advisors LLC lifted its position in TransAct Technologies by 72.7% in the second quarter. Summit Trail Advisors LLC now owns 19,000 shares of the technology company's stock valued at $77,000 after purchasing an additional 8,000 shares during the last quarter. Connors Investor Services Inc. lifted its position in TransAct Technologies by 36.7% in the second quarter. Connors Investor Services Inc. now owns 41,700 shares of the technology company's stock valued at $168,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Bard Associates Inc. lifted its position in TransAct Technologies by 6.6% in the second quarter. Bard Associates Inc. now owns 148,255 shares of the technology company's stock valued at $599,000 after purchasing an additional 9,200 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company's stock.
TransAct Technologies Company Profile
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TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. Its thermal printers and terminals to generates labels, coupons, and transaction records, such as receipts, tickets, and other documents, as well as printed logging and plotting of data.
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