Short Interest in Transcat, Inc. (NASDAQ:TRNS) Decreases By 5.6%

Transcat, Inc. (NASDAQ:TRNS) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 123,700 shares, a drop of 5.6% from the June 30th total of 131,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 47,600 shares, the days-to-cover ratio is currently 2.6 days.

Several equities analysts recently issued reports on TRNS shares. ValuEngine cut Transcat from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut Transcat from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 30th.

Shares of TRNS stock opened at $22.13 on Friday. Transcat has a 1 year low of $17.56 and a 1 year high of $27.00. The stock has a market cap of $170.66 million, a PE ratio of 23.29, a P/E/G ratio of 3.17 and a beta of 0.72. The stock has a fifty day moving average price of $24.24 and a 200 day moving average price of $24.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.10.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Tuesday, July 23rd. The scientific and technical instruments company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). Transcat had a return on equity of 12.84% and a net margin of 4.46%. The company had revenue of $42.40 million during the quarter. As a group, equities research analysts predict that Transcat will post 0.92 earnings per share for the current year.

In related news, Director Richard J. Harrison sold 4,000 shares of Transcat stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $24.22, for a total value of $96,880.00. Following the sale, the director now directly owns 32,221 shares in the company, valued at $780,392.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carl E. Sassano sold 5,000 shares of Transcat stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $24.85, for a total value of $124,250.00. Following the completion of the sale, the director now owns 71,484 shares in the company, valued at $1,776,377.40. The disclosure for this sale can be found here. Insiders sold a total of 33,462 shares of company stock worth $842,642 over the last quarter. Company insiders own 8.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. Marshall Wace North America L.P. grew its position in shares of Transcat by 157.5% in the first quarter. Marshall Wace North America L.P. now owns 1,545 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 945 shares during the period. Strs Ohio purchased a new stake in Transcat during the second quarter valued at about $46,000. Oppenheimer Asset Management Inc. purchased a new stake in Transcat during the first quarter valued at about $62,000. Hillsdale Investment Management Inc. purchased a new stake in Transcat during the second quarter valued at about $102,000. Finally, Howe & Rusling Inc. grew its position in Transcat by 40.4% during the first quarter. Howe & Rusling Inc. now owns 6,950 shares of the scientific and technical instruments company’s stock valued at $160,000 after acquiring an additional 2,000 shares during the period. 60.71% of the stock is owned by institutional investors and hedge funds.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in North America and internationally. It operates in two segments, Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.

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