TransAct Technologies (NASDAQ:TACT) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of TransAct Technologies (NASDAQ:TACT) in a report issued on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

TransAct Technologies Stock Performance

NASDAQ:TACT opened at $4.51 on Wednesday. TransAct Technologies has a 52 week low of $3.32 and a 52 week high of $7.97. The firm has a 50-day moving average price of $4.30 and a two-hundred day moving average price of $4.25. The firm has a market cap of $45.10 million, a price-to-earnings ratio of 76.00 and a beta of 1.73.

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

Institutional Trading of TransAct Technologies

Several hedge funds have recently added to or reduced their stakes in TACT. Bard Financial Services Inc. bought a new stake in TransAct Technologies in the 1st quarter valued at about $79,000. Vanguard Group Inc. lifted its stake 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 buying an additional 3,821 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted 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 buying an additional 3,000 shares during the period. Connors Investor Services Inc. grew its stake 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 valued at $104,000 after buying an additional 9,999 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in TransAct Technologies by 8.6% during the 2nd quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock valued at $143,000 after acquiring an additional 3,000 shares during the period. 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.