TransAct Technologies (NASDAQ:TACT) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

TransAct Technologies Incorporated (NASDAQ:TACT)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.82 and traded as high as $5.67. TransAct Technologies shares last traded at $5.10, with a volume of 134,519 shares trading hands.

Wall Street Analysts Forecast Growth

TACT has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, TransAct Technologies presently has an average rating of “Reduce”.

TransAct Technologies Stock Up 5.5%

The firm has a market cap of $54.90 million, a PE ratio of -106.80 and a beta of 1.27. The business has a 50-day moving average price of $4.10 and a two-hundred day moving average price of $3.83.

TransAct Technologies (NASDAQ:TACT) last released its earnings results on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.11. The firm had revenue of $14.41 million during the quarter, compared to analysts’ expectations of $12.60 million. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%. On average, equities research analysts predict that TransAct Technologies Incorporated will post -0.05 earnings per share for the current fiscal year.

TransAct Technologies announced that its board has approved a share buyback program on Wednesday, May 13th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of TransAct Technologies

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of TransAct Technologies by 53.1% during the first quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock worth $447,000 after buying an additional 47,138 shares during the period. Gamco Investors INC. ET AL increased its position in TransAct Technologies by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock valued at $494,000 after acquiring an additional 5,000 shares during the period. Silverberg Bernstein Capital Management LLC raised its stake in TransAct Technologies by 1.7% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock valued at $1,945,000 after acquiring an additional 10,156 shares during the last quarter. Heron Bay Capital Management acquired a new stake in TransAct Technologies during the 4th quarter worth approximately $236,000. Finally, Renaissance Technologies LLC lifted its position in TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock worth $1,670,000 after acquiring an additional 18,122 shares during the period. Institutional investors and hedge funds own 74.46% of the company’s stock.

About TransAct Technologies

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.