TransAct Technologies (NASDAQ:TACT) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

TransAct Technologies Incorporated (NASDAQ:TACT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.08 and traded as high as $5.84. TransAct Technologies shares last traded at $5.64, with a volume of 29,797 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TACT shares. Zacks Research raised TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded TransAct Technologies to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised shares of TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

TransAct Technologies Stock Performance

The firm has a market capitalization of $58.60 million, a PE ratio of -114.00 and a beta of 1.20. The stock’s 50 day simple moving average is $5.14 and its two-hundred day simple moving average is $4.09.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate 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. Equities research analysts expect that TransAct Technologies Incorporated will post -0.05 earnings per share for the current fiscal year.

TransAct Technologies announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TACT. BlackRock Inc. purchased a new stake in shares of TransAct Technologies in the second quarter valued at about $1,413,000. NewEdge Advisors LLC increased its position in shares of 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 purchasing an additional 47,138 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in 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 buying an additional 5,000 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake in TransAct Technologies by 1.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock worth $1,945,000 after buying an additional 10,156 shares during the period. Finally, Heron Bay Capital Management acquired a new stake in shares of TransAct Technologies during the fourth quarter valued at about $236,000. 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.