TransAct Technologies (NASDAQ:TACT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.28 and traded as high as $4.30. TransAct Technologies shares last traded at $4.10, with a volume of 22,912 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TACT shares. Wall Street Zen raised TransAct Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TransAct Technologies in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

TransAct Technologies Stock Down 2.4%

The company has a market capitalization of $41.45 million, a PE ratio of -5.12 and a beta of 1.19. The firm’s 50-day moving average is $4.55 and its 200-day moving average is $4.28.

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

Institutional Trading of TransAct Technologies

A number of hedge funds have recently bought and sold shares of TACT. Silverberg Bernstein Capital Management LLC grew its position in TransAct Technologies by 31.2% during 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 acquiring an additional 129,289 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of TransAct Technologies in the 3rd quarter valued at $290,000. Susquehanna International Group LLP purchased a new stake in shares of TransAct Technologies in the 3rd quarter valued at $225,000. Teton Advisors LLC bought a new position in shares of TransAct Technologies during the 3rd quarter valued at $176,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in TransAct Technologies in the 3rd quarter worth $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.