TransAct Technologies (NASDAQ:TACT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

TransAct Technologies Incorporated (NASDAQ:TACT)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.26 and traded as high as $4.65. TransAct Technologies shares last traded at $4.51, with a volume of 99,019 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TACT. Wall Street Zen upgraded shares of TransAct Technologies from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of TransAct Technologies in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

TransAct Technologies Price Performance

The stock has a 50-day simple moving average of $4.67 and a 200-day simple moving average of $4.26. The stock has a market cap of $45.60 million, a P/E ratio of -5.64 and a beta of 1.19.

TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings results on Monday, November 10th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $13.18 million for the quarter, compared to analyst estimates of $13.10 million. TransAct Technologies had a negative net margin of 16.05% and a negative return on equity of 2.42%. As a group, sell-side analysts forecast that TransAct Technologies Incorporated will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On TransAct Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC raised its position in TransAct Technologies by 31.2% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 544,259 shares of the technology company’s stock valued at $1,992,000 after purchasing an additional 129,289 shares during the last quarter. NewEdge Advisors LLC bought a new stake in TransAct Technologies during the 3rd quarter worth approximately $290,000. Susquehanna International Group LLP acquired a new position in TransAct Technologies in the 3rd quarter valued at approximately $225,000. Teton Advisors LLC bought a new position in shares of TransAct Technologies during the third quarter valued at $176,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of TransAct Technologies during the third quarter valued at $151,000. Institutional investors own 74.46% of the company’s stock.

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.