TransAct Technologies (NASDAQ:TACT) Receives New Coverage from Analysts at StockNews.com

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

Separately, Craig Hallum reduced their target price on shares of TransAct Technologies from $9.00 to $7.50 and set a buy rating on the stock in a report on Wednesday, May 8th.

TransAct Technologies Stock Performance

Shares of TACT opened at $3.77 on Friday. The stock has a market capitalization of $37.66 million, a PE ratio of 62.83 and a beta of 1.79. TransAct Technologies has a 1 year low of $3.32 and a 1 year high of $9.32. The company’s 50-day simple moving average is $3.96 and its 200-day simple moving average is $5.69.

TransAct Technologies (NASDAQ:TACT) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. The firm had revenue of $10.69 million for the quarter, compared to analysts’ expectations of $11.20 million. TransAct Technologies had a net margin of 0.94% and a return on equity of 5.06%. On average, sell-side analysts predict that TransAct Technologies will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On TransAct Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new position in TransAct Technologies in the fourth quarter valued at approximately $73,000. Bard Financial Services Inc. purchased a new position in TransAct Technologies in the first quarter valued at approximately $79,000. O Shaughnessy Asset Management LLC purchased a new position in TransAct Technologies in the third quarter valued at approximately $103,000. Heron Bay Capital Management purchased a new position in TransAct Technologies in the fourth quarter valued at approximately $116,000. Finally, Summit Trail Advisors LLC increased its stake in TransAct Technologies by 15.0% in the fourth quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock valued at $133,000 after purchasing an additional 2,483 shares during the last quarter. 74.46% of the stock is currently 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.