Craig Hallum Lowers TransAct Technologies (NASDAQ:TACT) Price Target to $7.50

TransAct Technologies (NASDAQ:TACT) had its target price decreased by Craig Hallum from $9.00 to $7.50 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price indicates a potential upside of 100.00% from the company’s previous close.

Separately, StockNews.com initiated coverage on TransAct Technologies in a research report on Tuesday, April 30th. They set a “buy” rating on the stock.

TransAct Technologies Trading Down 4.3 %

Shares of TransAct Technologies stock traded down $0.17 on Wednesday, reaching $3.75. 37,786 shares of the company were exchanged, compared to its average volume of 22,518. TransAct Technologies has a fifty-two week low of $3.72 and a fifty-two week high of $9.44. The firm has a market capitalization of $37.35 million, a price-to-earnings ratio of 7.98 and a beta of 1.86. The stock has a fifty day moving average price of $5.37 and a 200-day moving average price of $6.44.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings data on Tuesday, March 12th. The technology company reported ($0.01) EPS for the quarter. TransAct Technologies had a net margin of 6.54% and a return on equity of 15.96%. The firm had revenue of $13.27 million for the quarter, compared to analysts’ expectations of $13.90 million. On average, equities analysts anticipate that TransAct Technologies will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TACT. Bard Financial Services Inc. acquired a new position in shares of TransAct Technologies in the first quarter worth $79,000. Bard Associates Inc. grew its stake in TransAct Technologies by 1.1% in the fourth quarter. Bard Associates Inc. now owns 155,975 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 1,750 shares in the last quarter. Summit Trail Advisors LLC increased its position in TransAct Technologies by 15.0% in the 4th quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock worth $133,000 after purchasing an additional 2,483 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of TransAct Technologies during the 4th quarter worth about $73,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new stake in shares of TransAct Technologies during the 4th quarter valued at about $2,873,000. Hedge funds and other institutional investors own 74.46% of the company’s stock.

About TransAct Technologies

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.