TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 14,700 shares, a drop of 24.2% from the June 15th total of 19,400 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 22,600 shares, the days-to-cover ratio is currently 0.7 days.
NASDAQ:TACT traded up $0.13 during mid-day trading on Tuesday, reaching $4.52. The stock had a trading volume of 1,242 shares, compared to its average volume of 22,364. The firm has a 50 day moving average price of $4.52 and a two-hundred day moving average price of $6.97. The stock has a market capitalization of $34.00 million, a P/E ratio of -27.91 and a beta of 1.99. TransAct Technologies has a one year low of $2.87 and a one year high of $13.59. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 3.24.
TransAct Technologies (NASDAQ:TACT) last released its earnings results on Thursday, May 7th. The technology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). TransAct Technologies had a negative return on equity of 4.61% and a negative net margin of 2.75%. The firm had revenue of $10.25 million during the quarter, compared to the consensus estimate of $11.18 million. Research analysts forecast that TransAct Technologies will post -0.8 earnings per share for the current year.
TACT has been the subject of a number of recent research reports. B. Riley downgraded TransAct Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $4.00 in a research report on Friday, March 27th. Zacks Investment Research upgraded TransAct Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, ValuEngine downgraded TransAct Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st.
A number of hedge funds have recently made changes to their positions in TACT. Harbert Fund Advisors Inc. lifted its position in TransAct Technologies by 80.4% in the fourth quarter. Harbert Fund Advisors Inc. now owns 363,834 shares of the technology company’s stock valued at $3,991,000 after purchasing an additional 162,121 shares during the last quarter. Granahan Investment Management Inc. MA lifted its position in TransAct Technologies by 95.9% in the first quarter. Granahan Investment Management Inc. MA now owns 81,094 shares of the technology company’s stock valued at $252,000 after purchasing an additional 39,695 shares during the last quarter. Cowen Prime Services LLC lifted its position in TransAct Technologies by 6.5% in the first quarter. Cowen Prime Services LLC now owns 305,810 shares of the technology company’s stock valued at $951,000 after purchasing an additional 18,793 shares during the last quarter. 1492 Capital Management LLC bought a new stake in TransAct Technologies in the first quarter valued at approximately $41,000. Finally, Renaissance Technologies LLC lifted its position in TransAct Technologies by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 413,600 shares of the technology company’s stock valued at $4,537,000 after purchasing an additional 9,834 shares during the last quarter. Hedge funds and other institutional investors own 43.60% of the company’s stock.
TransAct Technologies Company Profile
TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal and inkjet printers and terminals to generate 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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