Wall Street Zen Upgrades TransAct Technologies (NASDAQ:TACT) to “Hold”

TransAct Technologies (NASDAQ:TACT) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Several other research firms also recently issued reports on TACT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TransAct Technologies currently has a consensus rating of “Reduce”.

TransAct Technologies Stock Performance

TACT opened at $5.23 on Friday. The business has a 50 day moving average price of $4.74 and a 200 day moving average price of $3.97. TransAct Technologies has a twelve month low of $3.06 and a twelve month high of $6.02. The firm has a market cap of $53.76 million, a P/E ratio of -104.60 and a beta of 1.21.

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

TransAct Technologies announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 13th that allows the company to buyback $3.00 million in shares. This buyback authorization allows the technology company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of TransAct Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC increased its position in TransAct Technologies by 53.1% in 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 during the period. Gamco Investors INC. ET AL boosted its position in shares of TransAct Technologies by 3.4% in the first 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 boosted its position in shares of TransAct Technologies by 1.7% in the first 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 period. Heron Bay Capital Management acquired a new stake in shares of TransAct Technologies in the fourth quarter worth $236,000. Finally, Renaissance Technologies LLC grew its stake in shares of TransAct Technologies by 4.5% in the fourth 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 last quarter. 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.