Transcat, Inc. (NASDAQ:TRNS) Short Interest Update

Key Points

• Short Interest Surge: Transcat, Inc. saw a significant increase in short interest, rising by 21.7% to a total of 417,500 shares as of August 31st, indicating growing bearish sentiment among investors.
• Institutional Ownership: Institutional investors own a substantial 98.34% of Transcat's stock, with notable investments from firms such as Lazard Asset Management and PNC Financial Services.
• Positive Earnings Report: The company reported earnings of $0.59 per share for the last quarter, surpassing analysts' estimates by $0.19, and achieved revenue of $76.42 million, exceeding predictions of $72.28 million.

Transcat, Inc. (NASDAQ:TRNS - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 417,500 shares, an increase of 21.7% from the August 15th total of 343,000 shares. Based on an average daily volume of 105,800 shares, the short-interest ratio is presently 3.9 days. Currently, 4.6% of the shares of the stock are sold short. Currently, 4.6% of the shares of the stock are sold short. Based on an average daily volume of 105,800 shares, the short-interest ratio is presently 3.9 days.

Institutional Investors Weigh In On Transcat

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Transcat by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,137 shares of the scientific and technical instruments company's stock worth $543,000 after acquiring an additional 194 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Transcat by 10,137.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the scientific and technical instruments company's stock worth $122,000 after acquiring an additional 1,622 shares in the last quarter. Deutsche Bank AG increased its position in shares of Transcat by 49.9% during the fourth quarter. Deutsche Bank AG now owns 7,833 shares of the scientific and technical instruments company's stock worth $828,000 after acquiring an additional 2,608 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Transcat by 24.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,029 shares of the scientific and technical instruments company's stock worth $1,801,000 after acquiring an additional 3,307 shares in the last quarter. Finally, Premier Fund Managers Ltd grew its position in Transcat by 52.2% in the first quarter. Premier Fund Managers Ltd now owns 6,908 shares of the scientific and technical instruments company's stock valued at $507,000 after purchasing an additional 2,368 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TRNS shares. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and issued a $116.00 price objective on shares of Transcat in a research note on Friday, August 22nd. Finally, Lake Street Capital initiated coverage on shares of Transcat in a research report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.20.

Transcat Trading Down 0.4%

TRNS traded down $0.29 during mid-day trading on Friday, hitting $75.45. The stock had a trading volume of 110,216 shares, compared to its average volume of 114,916. The stock's fifty day simple moving average is $80.58 and its 200-day simple moving average is $80.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. The firm has a market capitalization of $703.19 million, a price-to-earnings ratio of 52.76 and a beta of 0.72. Transcat has a 1-year low of $67.56 and a 1-year high of $133.72.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The company had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. As a group, research analysts forecast that Transcat will post 2.3 EPS for the current fiscal year.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.