TransAct Technologies (NASDAQ:TACT) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $4.64 and traded as high as $5.23. TransAct Technologies shares last traded at $5.19, with a volume of 48,668 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings raised TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of TransAct Technologies to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

TransAct Technologies Stock Down 0.6%

The company has a fifty day simple moving average of $4.92 and a two-hundred day simple moving average of $4.65. The stock has a market capitalization of $54.39 million, a P/E ratio of -131.75 and a beta of 1.25.

Hedge Funds Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TACT. BlackRock Inc. acquired a new stake in TransAct Technologies in the second quarter valued at approximately $1,413,000. Bard Associates Inc. purchased a new position in shares of TransAct Technologies during the second quarter worth approximately $597,000. Gamco Investors INC. ET AL increased its stake 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 worth $494,000 after purchasing an additional 5,000 shares during the period. NewEdge Advisors LLC increased 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 valued at $447,000 after buying an additional 47,138 shares during the period. Finally, Globeflex Capital L P bought a new position in shares of TransAct Technologies in the 2nd quarter worth approximately $258,000. 74.46% of the stock is owned by institutional investors and hedge funds.

TransAct Technologies Company Profile

TransAct Technologies Incorporated develops and supplies transaction-based technology products and related services for specialized markets. The company designs, manufactures and supports thermal printers, print heads, software and other solutions used to produce receipts, tickets, coupons and other transaction documents.

Its products serve the gaming and lottery industries, including casino printers, ticketing solutions and systems designed to support casino operations. TransAct also provides solutions for food-service businesses, including its BOHA! ecosystem, which combines hardware, software and digital tools to help restaurants and other food-service operators manage operational tasks, food safety and compliance.

TransAct serves customers in North America and international markets through direct sales, distributors and other business relationships.