TransAct Technologies (NASDAQ:TACT) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of TransAct Technologies (NASDAQ:TACT) in a research report report published on Tuesday. The firm issued a buy rating on the technology company’s stock.

TransAct Technologies Stock Performance

Shares of TACT opened at $4.76 on Tuesday. The company has a 50 day moving average price of $4.26 and a 200-day moving average price of $4.28. TransAct Technologies has a fifty-two week low of $3.32 and a fifty-two week high of $7.97. The stock has a market capitalization of $47.60 million, a PE ratio of 79.33 and a beta of 1.73.

TransAct Technologies (NASDAQ:TACT) last posted its earnings results on Thursday, August 8th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. TransAct Technologies had a negative return on equity of 1.31% and a negative net margin of 0.97%. The company had revenue of $11.60 million during the quarter, compared to analyst estimates of $10.25 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts forecast that TransAct Technologies will post -0.26 EPS for the current year.

Institutional Trading of TransAct Technologies

Hedge funds have recently modified their holdings of the company. Bard Financial Services Inc. bought a new position in shares of TransAct Technologies during the 1st quarter worth approximately $79,000. Victory Capital Management Inc. acquired a new position in shares of TransAct Technologies during the fourth quarter worth $73,000. Connors Investor Services Inc. lifted its holdings in shares of TransAct Technologies by 56.5% during the 2nd quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock valued at $104,000 after purchasing an additional 9,999 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of TransAct Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 3,821 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in TransAct Technologies by 8.6% during the 2nd quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock worth $143,000 after buying an additional 3,000 shares during the last quarter. 74.46% of the stock is owned by hedge funds and other institutional investors.

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.