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

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

TransAct Technologies Stock Performance

NASDAQ TACT opened at $4.50 on Wednesday. TransAct Technologies has a one year low of $3.32 and a one year high of $7.97. The company has a market capitalization of $45 million, a price-to-earnings ratio of 75.00 and a beta of 1.73. The company’s 50-day simple moving average is $4.31 and its two-hundred day simple moving average is $4.25.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.14. The company had revenue of $11.60 million for the quarter, compared to analyst estimates of $10.25 million. TransAct Technologies had a negative net margin of 0.97% and a negative return on equity of 1.31%. During the same period last year, the company posted $0.22 earnings per share. Equities analysts expect that TransAct Technologies will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TransAct Technologies

A number of hedge funds have recently made changes to their positions in TACT. Bard Financial Services Inc. purchased a new position in TransAct Technologies in the first quarter valued at about $79,000. Connors Investor Services Inc. boosted its holdings in shares of TransAct Technologies by 56.5% in the 2nd quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock valued at $104,000 after buying an additional 9,999 shares in the last quarter. Vanguard Group Inc. grew 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 buying an additional 3,821 shares during the last quarter. Gabelli Funds LLC grew its position in shares of TransAct Technologies by 8.6% in 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. Finally, Silverberg Bernstein Capital Management LLC raised its stake in shares of TransAct Technologies by 0.7% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 412,390 shares of the technology company’s stock worth $1,555,000 after acquiring an additional 3,000 shares in the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

About TransAct Technologies

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.