TransAct Technologies Incorporated (NASDAQ:TACT) Sees Significant Increase in Short Interest

TransAct Technologies Incorporated (NASDAQ:TACT) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 69,400 shares, a growth of 736.1% from the February 29th total of 8,300 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 20,600 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling

In related news, major shareholder B. Riley Financial, Inc. sold 13,521 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $7.70, for a total value of $104,111.70. Following the completion of the sale, the insider now directly owns 194,215 shares of the company’s stock, valued at approximately $1,495,455.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 55,288 shares of company stock valued at $418,151. 14.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank purchased a new position in shares of TransAct Technologies in the third quarter valued at $44,000. Jane Street Group LLC purchased a new position in shares of TransAct Technologies in the second quarter valued at $58,000. Cable Hill Partners LLC bought a new stake in TransAct Technologies in the third quarter worth $71,000. Victory Capital Management Inc. bought a new stake in TransAct Technologies in the fourth quarter worth $73,000. Finally, Royal Bank of Canada bought a new stake in TransAct Technologies in the second quarter worth $99,000. 74.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TACT shares. StockNews.com lowered shares of TransAct Technologies from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 9th. Craig Hallum cut their price objective on shares of TransAct Technologies from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 13th.

TransAct Technologies Trading Down 1.7 %

Shares of TACT stock traded down $0.09 on Thursday, reaching $5.25. The company’s stock had a trading volume of 8,868 shares, compared to its average volume of 20,777. The stock’s fifty day simple moving average is $6.89 and its 200-day simple moving average is $6.75. TransAct Technologies has a 1 year low of $4.92 and a 1 year high of $9.44. The company has a market capitalization of $52.29 million, a price-to-earnings ratio of 11.36 and a beta of 1.91.

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 printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.