TransAct Technologies (NASDAQ:TACT) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.86 and traded as high as $6.02. TransAct Technologies shares last traded at $5.84, with a volume of 110,936 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TACT shares. Zacks Research raised TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

TransAct Technologies Trading Down 9.6%

The company has a market cap of $52.12 million, a PE ratio of -101.40 and a beta of 1.21. The business has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $3.87.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. TransAct Technologies had a negative net margin of 0.93% and a negative return on equity of 1.56%. The company had revenue of $14.41 million during the quarter, compared to the consensus estimate of $12.60 million. Equities analysts expect that TransAct Technologies Incorporated will post -0.05 EPS for the current year.

TransAct Technologies announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 13th that permits the company to repurchase $3.00 million in shares. This repurchase authorization permits the technology company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after purchasing an additional 4,742 shares during the period. NewEdge Advisors LLC lifted its holdings in TransAct Technologies by 53.1% during the 1st 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 in the last quarter. Heron Bay Capital Management purchased a new position in TransAct Technologies in the fourth quarter valued at $236,000. Goldman Sachs Group Inc. boosted its stake in shares of TransAct Technologies by 33.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after buying an additional 5,100 shares during the period. Finally, Coldstream Capital Management Inc. acquired a new position in TransAct Technologies during the 3rd quarter worth approximately $58,000. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

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.