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

Stock analysts at StockNews.com assumed coverage on shares of TransAct Technologies (NASDAQ:TACT) in a research note issued on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

TransAct Technologies Trading Down 7.4 %

Shares of NASDAQ TACT opened at $4.50 on Wednesday. TransAct Technologies has a 12 month low of $3.32 and a 12 month high of $7.97. The company has a 50 day simple moving average of $4.28 and a two-hundred day simple moving average of $4.25. The stock has a market cap of $45 million, a price-to-earnings ratio of 75.00 and a beta of 1.73.

TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.14. The business had revenue of $11.60 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.22 EPS. Analysts forecast that TransAct Technologies will post -0.26 EPS for the current year.

Hedge Funds Weigh In On TransAct Technologies

Institutional investors have recently made changes to their positions in the company. Bard Financial Services Inc. purchased a new position in shares of TransAct Technologies during the 1st quarter valued at approximately $79,000. Connors Investor Services Inc. increased its holdings in TransAct Technologies by 56.5% in the 2nd quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock worth $104,000 after acquiring an additional 9,999 shares in the last quarter. Gabelli Funds LLC increased its holdings in 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 acquiring an additional 3,000 shares in the last quarter. Silverberg Bernstein Capital Management LLC increased its holdings in TransAct Technologies by 0.7% in 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. Finally, Vanguard Group Inc. increased its holdings in 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 acquiring an additional 3,821 shares in 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.