Short Interest in Transcat, Inc. (NASDAQ:TRNS) Grows By 20.5%

Transcat, Inc. (NASDAQ:TRNSGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 208,800 shares, an increase of 20.5% from the April 30th total of 173,300 shares. Based on an average daily volume of 40,900 shares, the days-to-cover ratio is currently 5.1 days.

Transcat Trading Down 0.3 %

Shares of NASDAQ:TRNS opened at $127.40 on Friday. The stock has a 50 day moving average of $115.94 and a 200 day moving average of $108.00. The company has a market cap of $1.16 billion, a PE ratio of 80.13 and a beta of 0.61. Transcat has a 12-month low of $81.26 and a 12-month high of $147.00. The company has a current ratio of 3.14, a quick ratio of 2.81 and a debt-to-equity ratio of 0.01.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Oppenheimer boosted their price target on Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Northland Capmk lowered shares of Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, HC Wainwright lifted their price target on shares of Transcat from $124.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $142.67.

Get Our Latest Stock Analysis on TRNS

Insider Activity

In other Transcat news, CEO Lee D. Rudow sold 2,373 shares of the business’s stock in a transaction dated Saturday, March 30th. The stock was sold at an average price of $111.43, for a total value of $264,423.39. Following the completion of the transaction, the chief executive officer now owns 103,688 shares of the company’s stock, valued at approximately $11,553,953.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Lee D. Rudow sold 12,000 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $135.10, for a total transaction of $1,621,200.00. Following the transaction, the chief executive officer now directly owns 91,692 shares of the company’s stock, valued at approximately $12,387,589.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lee D. Rudow sold 2,373 shares of Transcat stock in a transaction on Saturday, March 30th. The stock was sold at an average price of $111.43, for a total value of $264,423.39. Following the completion of the sale, the chief executive officer now directly owns 103,688 shares of the company’s stock, valued at approximately $11,553,953.84. The disclosure for this sale can be found here. Insiders have sold a total of 23,230 shares of company stock valued at $3,056,967 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Transcat

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Transcat during the 1st quarter valued at $224,000. State Board of Administration of Florida Retirement System bought a new position in shares of Transcat in the third quarter worth about $207,000. Arizona State Retirement System bought a new position in shares of Transcat in the third quarter worth about $213,000. Price T Rowe Associates Inc. MD grew its position in shares of Transcat by 13.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after purchasing an additional 284 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Transcat by 118.2% during the 3rd quarter. Quantbot Technologies LP now owns 2,370 shares of the scientific and technical instruments company’s stock valued at $232,000 after purchasing an additional 1,284 shares during the period. 98.34% of the stock is currently owned by institutional investors.

About Transcat

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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.

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