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

TransAct Technologies Incorporated (NASDAQ:TACT) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.75 and traded as high as $4.44. TransAct Technologies shares last traded at $4.36, with a volume of 195,790 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of TransAct Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

TransAct Technologies Stock Performance

The company’s 50-day moving average is $3.46 and its 200 day moving average is $3.75. The company has a market capitalization of $44.82 million, a PE ratio of -87.20 and a beta of 1.16.

TransAct Technologies (NASDAQ:TACT) last announced its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.11. TransAct Technologies had a negative net margin of 0.93% and a negative return on equity of 1.56%. The company had revenue of $14.42 million for the quarter, compared to the consensus estimate of $12.60 million.

TransAct Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 13th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the technology company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at TransAct Technologies

In other news, CEO John Dillon purchased 70,902 shares of TransAct Technologies stock in a transaction that occurred on Monday, March 16th. The stock was bought at an average price of $3.49 per share, with a total value of $247,447.98. Following the completion of the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $349,000. The trade was a 243.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in shares of TransAct Technologies by 35.3% in the first quarter. NewEdge Advisors LLC now owns 120,145 shares of the technology company’s stock worth $395,000 after purchasing an additional 31,363 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of TransAct Technologies by 3.4% in the first quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock worth $494,000 after purchasing an additional 5,000 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its stake in shares of TransAct Technologies by 1.7% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock worth $1,945,000 after purchasing an additional 10,156 shares during the last quarter. Heron Bay Capital Management purchased a new position in shares of TransAct Technologies in the fourth quarter worth $236,000. Finally, Renaissance Technologies LLC raised 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 worth $1,670,000 after purchasing an additional 18,122 shares during the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

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.