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

StockNews.com assumed coverage on shares of TransAct Technologies (NASDAQ:TACT) in a report issued on Monday. The brokerage set a “buy” rating on the technology company’s stock.

TransAct Technologies Stock Up 0.2 %

Shares of NASDAQ TACT opened at $4.33 on Monday. The stock’s 50 day moving average price is $4.12 and its two-hundred day moving average price is $4.38. TransAct Technologies has a 52-week low of $3.32 and a 52-week high of $7.97. The stock has a market capitalization of $43.28 million, a P/E ratio of 72.17 and a beta of 1.73.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.03) earnings per share for the quarter, beating 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 period in the previous year, the business earned $0.22 EPS. On average, analysts anticipate that TransAct Technologies will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TACT. Vanguard Group Inc. raised its stake 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 acquiring an additional 3,821 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of TransAct Technologies during the 4th quarter worth approximately $73,000. Bard Financial Services Inc. acquired a new position in TransAct Technologies during the 1st quarter valued at approximately $79,000. Gabelli Funds LLC boosted its position in TransAct Technologies by 8.6% during the 2nd quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock valued at $143,000 after purchasing an additional 3,000 shares during the period. Finally, Connors Investor Services Inc. grew its stake in TransAct Technologies by 56.5% during the 2nd 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 during the last quarter. 74.46% of the stock is owned by institutional investors and hedge funds.

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.