The stock of Transcat, Inc. (NASDAQ:TRNS) gapped up by $0.01 today and has $19.74 target or 88.00% above today’s $10.50 share price. The 6 months technical chart setup indicates low risk for the $74.77M company. The gap was reported on Oct, 1 by Barchart.com. If the $19.74 price target is reached, the company will be worth $65.80 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 2.94% or $0.3 on September 30, hitting $10.5. About 25,086 shares traded hands or 204.07% up from the average. Transcat, Inc. (NASDAQ:TRNS) has risen 17.38% since February 29, 2016 and is uptrending. It has outperformed by 6.96% the S&P500.
Analysts await Transcat, Inc. (NASDAQ:TRNS) to report earnings on October, 24.
According to Zacks Investment Research, “Transcat, Inc. distributes test and measurement instruments and provides accredited calibration services to a variety of industries including life sciences, pharmaceutical, petroleum refining, chemical manufacturing, public utility, pulp and paper, communications, automotive and aerospace.”
Insitutional Activity: The institutional sentiment increased to 2.33 in 2016 Q2. Its up 1.70, from 0.63 in 2016Q1. The ratio increased, as 1 funds sold all Transcat, Inc. shares owned while 2 reduced positions. 1 funds bought stakes while 6 increased positions. They now own 2.60 million shares or 6.41% more from 2.44 million shares in 2016Q1.
California Employees Retirement System last reported 0% of its portfolio in the stock. Northern Tru Corp has 0% invested in the company for 14,777 shares. Deutsche Comml Bank Ag accumulated 3,900 shares or 0% of the stock. Blackrock Fund Advsr, a California-based fund reported 16,138 shares. Blackrock Inv Mgmt Limited Liability Com has 1,206 shares for 0% of their US portfolio. Acadian Asset Management Limited last reported 0% of its portfolio in the stock. Punch And Associate Inv Mgmt Incorporated has 151,390 shares for 0.18% of their US portfolio. Qci Asset Inc Ny last reported 30,054 shares in the company. Heartland Advsrs has invested 0.34% of its portfolio in Transcat, Inc. (NASDAQ:TRNS). Neuberger Berman Grp Ltd holds 0% of its portfolio in Transcat, Inc. (NASDAQ:TRNS) for 92,000 shares. Tower Research Lc (Trc) accumulated 0% or 264 shares. Grandeur Peak Global Ltd accumulated 180,543 shares or 0.37% of the stock. Dalton Greiner Hartman Maher & accumulated 196,081 shares or 0.12% of the stock. Wcm Invest Ca last reported 0.07% of its portfolio in the stock. Wells Fargo & Co Mn has invested 0% of its portfolio in Transcat, Inc. (NASDAQ:TRNS).
Insider Transactions: Since May 20, 2016, the stock had 1 buying transaction, and 9 selling transactions for $286,784 net activity. HADEED CHARLES P had sold 5,100 shares worth $55,460. SASSANO CARL E also sold $85,360 worth of Transcat, Inc. (NASDAQ:TRNS) on Wednesday, May 25. 1,500 shares were bought by TSCHIDERER MICHAEL, worth $14,430.
More notable recent Transcat, Inc. (NASDAQ:TRNS) news were published by: Globenewswire.com which released: “Transcat, Inc. to Present at Midwest Investment Conference 2016” on June 13, 2016, also Globenewswire.com with their article: “Transcat, Inc. to Present at 2016 Midwest IDEAS Investor Conference” published on August 17, 2016, Streetinsider.com published: “Transcat, Inc. (TRNS) Acquires Excalibur Engineering in $7.35M Deal” on April 01, 2016. More interesting news about Transcat, Inc. (NASDAQ:TRNS) were released by: Democratandchronicle.com and their article: “Transcat pays $11.25M for Spectrum” published on January 08, 2016 as well as Globenewswire.com‘s news article titled: “Transcat Acquires Anmar Metrology, Inc.” with publication date: August 24, 2015.
TRNS Company Profile
Transcat, Inc., incorporated on March 19, 1964, is a well-known provider of calibration and laboratory instrument services and a distributor of professional grade test, measurement and control instrumentation. The Firm conducts its business through two divisions: service (Service) and distribution (Distribution). The Firm is focused on providing its services and products to the life science industries, which include pharmaceutical, biotechnology, medical device manufacturing and other Food and Drug Administration (FDA)-regulated businesses. The Firm also focuses on other industries, which include industrial manufacturing; energy and utility, including gas and oil; chemical manufacturing, and Federal Aviation Administration (FAA)-regulated business, including aerospace and defense and other industries. The Company’s subsidiaries include Transcat Canada Inc., United Scale & Engineering Corporation, WTT Real Estate Acquisition, LLC and Anacor Acquisition, LLC.
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