TransAct Technologies Incorporated (NASDAQ:TACT – Get Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.90 and traded as high as $5.24. TransAct Technologies shares last traded at $5.06, with a volume of 15,662 shares.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. Zacks Research raised shares of TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.
Read Our Latest Stock Analysis on TransAct Technologies
TransAct Technologies Stock Performance
TransAct Technologies (NASDAQ:TACT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, topping 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 company had revenue of $14.41 million for the quarter, compared to the consensus estimate of $12.60 million. On average, sell-side analysts anticipate that TransAct Technologies Incorporated will post -0.05 EPS for the current fiscal year.
TransAct Technologies announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Hedge Funds Weigh In On TransAct Technologies
Several large investors have recently bought and sold shares of TACT. Heron Bay Capital Management acquired a new stake in TransAct Technologies in the 4th quarter worth $236,000. NewEdge Advisors LLC acquired a new position in shares of TransAct Technologies during the third quarter valued at about $290,000. Susquehanna International Group LLP acquired a new position in shares of TransAct Technologies during the third quarter valued at about $225,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of TransAct Technologies in the third quarter valued at about $151,000. Finally, Renaissance Technologies LLC lifted its stake in shares of TransAct Technologies by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after buying an additional 18,122 shares during the period. 74.46% of the stock is currently owned by institutional investors and hedge funds.
TransAct Technologies Company Profile
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.
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