StockNews.com Initiates Coverage on TransAct Technologies (NASDAQ:TACT)

StockNews.com assumed coverage on shares of TransAct Technologies (NASDAQ:TACT) in a research report released on Thursday morning. The brokerage issued a buy rating on the technology company’s stock.

Separately, Craig Hallum dropped their price objective on shares of TransAct Technologies from $9.00 to $7.50 and set a buy rating on the stock in a research note on Wednesday, May 8th.

TransAct Technologies Stock Performance

Shares of NASDAQ:TACT opened at $4.40 on Thursday. The firm has a market capitalization of $44 million, a P/E ratio of 73.33 and a beta of 1.72. The stock has a 50 day moving average price of $3.83 and a 200-day moving average price of $4.87. TransAct Technologies has a 52-week low of $3.32 and a 52-week high of $7.97.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. TransAct Technologies had a negative return on equity of 1.31% and a negative net margin of 0.97%. The business had revenue of $11.60 million during the quarter, compared to the consensus estimate of $10.25 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities analysts forecast that TransAct Technologies will post -0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On TransAct Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new position in shares of TransAct Technologies in the 4th quarter worth about $73,000. Bard Financial Services Inc. bought a new stake in TransAct Technologies during the 1st quarter valued at about $79,000. Connors Investor Services Inc. lifted its stake in shares of TransAct Technologies by 56.5% in the second quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock worth $104,000 after buying an additional 9,999 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of TransAct Technologies by 15.0% during the fourth quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock valued at $133,000 after buying an additional 2,483 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of TransAct Technologies by 8.6% during the second quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock valued at $143,000 after acquiring an additional 3,000 shares in the last quarter. 74.46% of the stock is owned by institutional investors.

TransAct Technologies Company Profile

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.