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) was the target of a significant increase in short interest during 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. Approximately 4.6% of the shares of the company are short sold. Based on an average trading volume of 105,800 shares, the short-interest ratio is currently 3.9 days. Based on an average trading volume of 105,800 shares, the short-interest ratio is currently 3.9 days. Approximately 4.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC raised its holdings in shares of Transcat by 205.9% in the second quarter. Squarepoint Ops LLC now owns 9,452 shares of the scientific and technical instruments company's stock valued at $812,000 after buying an additional 6,362 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 798 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Transcat during the 2nd quarter worth about $54,000. Engineers Gate Manager LP bought a new stake in Transcat during the 2nd quarter worth about $1,491,000. Finally, BNP Paribas Financial Markets raised its holdings in Transcat by 1,315.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,175 shares of the scientific and technical instruments company's stock worth $789,000 after purchasing an additional 8,527 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $116.00 price target on shares of Transcat in a research note on Friday, August 22nd. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Finally, Lake Street Capital assumed coverage on shares of Transcat in a research note on Thursday, July 10th. They set 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 issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $112.20.

Transcat Price Performance

Shares of NASDAQ TRNS traded down $1.08 during midday trading on Monday, reaching $74.37. 58,254 shares of the company traded hands, compared to its average volume of 106,833. The firm has a market cap of $693.13 million, a PE ratio of 52.01 and a beta of 0.72. The stock's 50-day simple moving average is $80.58 and its 200-day simple moving average is $80.52. Transcat has a 12 month low of $67.56 and a 12 month high of $133.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.92.

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

Transcat Company Profile

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.