TransAct Technologies (NASDAQ:TACT) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of TransAct Technologies (NASDAQ:TACT) in a note issued to investors on Friday. The firm set a “buy” rating on the technology company’s stock.

Separately, Craig Hallum decreased their target price on TransAct Technologies from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, May 8th.

TransAct Technologies Stock Performance

Shares of TACT opened at $3.82 on Friday. The company’s 50-day simple moving average is $3.98 and its 200-day simple moving average is $5.71. TransAct Technologies has a 1 year low of $3.32 and a 1 year high of $9.32. The stock has a market capitalization of $38.16 million, a PE ratio of 63.67 and a beta of 1.79.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.06. TransAct Technologies had a net margin of 0.94% and a return on equity of 5.06%. The firm had revenue of $10.69 million for the quarter, compared to the consensus estimate of $11.20 million. On average, sell-side analysts predict that TransAct Technologies will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On TransAct Technologies

Large investors have recently modified their holdings of the company. Silverberg Bernstein Capital Management LLC acquired a new position in shares of TransAct Technologies during the fourth quarter worth $2,873,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of TransAct Technologies during the 3rd quarter worth about $103,000. Victory Capital Management Inc. acquired a new stake in shares of TransAct Technologies during the 4th quarter worth about $73,000. Heron Bay Capital Management purchased a new position in TransAct Technologies in the fourth quarter valued at approximately $116,000. Finally, Vanguard Group Inc. raised its holdings in TransAct Technologies by 0.9% during the first quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 3,821 shares in the last quarter. 74.46% of the stock is owned by hedge funds and other institutional investors.

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.