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

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

Analyst Ratings Changes

A number of analysts have recently weighed in on TACT shares. Craig Hallum dropped their price target on TransAct Technologies from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. StockNews.com cut TransAct Technologies from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 9th.

Insiders Place Their Bets

In other TransAct Technologies news, major shareholder B. Riley Financial, Inc. sold 13,521 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $7.70, for a total transaction of $104,111.70. Following the transaction, the insider now owns 194,215 shares of the company’s stock, valued at approximately $1,495,455.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 55,288 shares of company stock valued at $418,151 in the last quarter. Insiders own 14.88% of the company’s stock.

Institutional Trading of TransAct Technologies

Several large investors have recently added to or reduced their stakes in the business. Connors Investor Services Inc. increased its position in TransAct Technologies by 3.1% in the 4th quarter. Connors Investor Services Inc. now owns 50,000 shares of the technology company’s stock valued at $311,000 after acquiring an additional 1,513 shares during the period. Bard Associates Inc. increased its position in shares of TransAct Technologies by 1.1% during the 4th quarter. Bard Associates Inc. now owns 155,975 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 1,750 shares during the period. Summit Trail Advisors LLC increased its position in shares of TransAct Technologies by 15.0% during the 4th quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock valued at $133,000 after purchasing an additional 2,483 shares during the period. Northern Trust Corp increased its position in shares of TransAct Technologies by 15.7% during the 2nd quarter. Northern Trust Corp now owns 26,664 shares of the technology company’s stock valued at $239,000 after purchasing an additional 3,610 shares during the period. Finally, Comerica Bank acquired a new position in shares of TransAct Technologies during the 3rd quarter valued at $44,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.

TransAct Technologies Trading Down 1.7 %

TACT traded down $0.09 during trading hours on Thursday, hitting $5.25. The company’s stock had a trading volume of 8,868 shares, compared to its average volume of 20,777. TransAct Technologies has a fifty-two week low of $4.92 and a fifty-two week high of $9.44. The firm has a market capitalization of $52.29 million, a PE ratio of 11.36 and a beta of 1.91. The company has a 50-day simple moving average of $6.89 and a 200 day simple moving average of $6.75.

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.