Short Interest in TransAct Technologies Incorporated (NASDAQ:TACT) Decreases By 31.8%

Key Points

• Short interest in TransAct Technologies decreased by 31.8% in September, with total short interest amounting to 3,000 shares as of September 15th.
• The company’s stock price increased by 12.1%, reaching $5.66, with a market capitalization of $57.11 million.
• Analysts maintain a consensus rating of "Hold" for the stock, with two analysts recommending a Buy and one a Sell, targeting a price of $5.00.

TransAct Technologies Incorporated (NASDAQ:TACT - Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 3,000 shares, a decline of 31.8% from the August 31st total of 4,400 shares. Based on an average daily trading volume, of 46,200 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 46,200 shares, the days-to-cover ratio is presently 0.1 days.

TransAct Technologies Trading Up 12.1%

Shares of TransAct Technologies stock traded up $0.61 on Monday, reaching $5.66. 88,488 shares of the company were exchanged, compared to its average volume of 26,304. The firm has a market capitalization of $57.11 million, a price-to-earnings ratio of -6.58 and a beta of 1.09. The stock has a fifty day moving average price of $4.47 and a 200-day moving average price of $3.92. TransAct Technologies has a fifty-two week low of $3.12 and a fifty-two week high of $5.66.

TransAct Technologies (NASDAQ:TACT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $13.80 million during the quarter, compared to analyst estimates of $12.55 million. TransAct Technologies had a negative return on equity of 4.02% and a negative net margin of 18.00%. On average, equities analysts anticipate that TransAct Technologies will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of TransAct Technologies in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TransAct Technologies stock. Quinn Opportunity Partners LLC raised its holdings in shares of TransAct Technologies Incorporated (NASDAQ:TACT - Free Report) by 68.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 64,288 shares of the technology company's stock after acquiring an additional 26,083 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.64% of TransAct Technologies worth $235,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.46% of the company's stock.

About TransAct Technologies

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.

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