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

TransAct Technologies Incorporated (NASDAQ:TACT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.82 and traded as high as $5.67. TransAct Technologies shares last traded at $5.10, with a volume of 134,519 shares.

Analyst Ratings Changes

TACT has been the subject of several analyst reports. Zacks Research raised TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

TransAct Technologies Trading Down 6.6%

The firm has a 50 day moving average price of $4.02 and a 200-day moving average price of $3.82. The firm has a market cap of $52.43 million, a price-to-earnings ratio of -102.00 and a beta of 1.26.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.41 million for the quarter, compared to analysts’ expectations of $12.60 million. As a group, equities analysts expect that TransAct Technologies Incorporated will post -0.05 earnings per share for the current fiscal year.

TransAct Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 13th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of TransAct Technologies

A number of large investors have recently made changes to their positions in the stock. Heron Bay Capital Management purchased a new stake in shares of TransAct Technologies during the fourth quarter worth about $236,000. NewEdge Advisors LLC purchased a new position in shares of TransAct Technologies in the 3rd quarter worth about $290,000. Susquehanna International Group LLP acquired a new position in shares of TransAct Technologies in the 3rd quarter valued at about $225,000. Teton Advisors LLC acquired a new position in shares of TransAct Technologies in the 3rd quarter valued at about $176,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of TransAct Technologies during the 3rd quarter worth about $151,000. Institutional investors and hedge funds 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.