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

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

TransAct Technologies Stock Performance

TransAct Technologies stock opened at $4.70 on Tuesday. The stock has a market cap of $46.98 million, a PE ratio of 78.33 and a beta of 1.73. The stock has a 50-day moving average of $4.25 and a two-hundred day moving average of $4.30. TransAct Technologies has a one year low of $3.32 and a one year high of $7.97.

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

Institutional Trading of TransAct Technologies

A number of hedge funds have recently modified their holdings of TACT. Vanguard Group Inc. grew its position in shares of TransAct Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock valued at $2,139,000 after acquiring an additional 3,821 shares during the period. Victory Capital Management Inc. acquired a new position in shares of TransAct Technologies in the 4th quarter valued at $73,000. Bard Financial Services Inc. purchased a new position in shares of TransAct Technologies during the first quarter worth $79,000. Connors Investor Services Inc. lifted its holdings in TransAct Technologies by 56.5% during the 2nd quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock worth $104,000 after buying an additional 9,999 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake 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 valued at $143,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 74.46% of the company’s stock.

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.