TransAct Technologies (NASDAQ:TACT) Share Price Passes Above 200 Day Moving Average – Should You Sell?

TransAct Technologies Incorporated (NASDAQ:TACT) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.86 and traded as high as $6.02. TransAct Technologies shares last traded at $5.84, with a volume of 110,936 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on TACT. Weiss Ratings restated a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. Zacks Research raised TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

TransAct Technologies Stock Up 10.8%

The firm’s fifty day moving average price is $4.26 and its two-hundred day moving average price is $3.86. The stock has a market capitalization of $60.04 million, a PE ratio of -116.80 and a beta of 1.27.

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

TransAct Technologies announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 13th that authorizes the company to buyback $3.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On TransAct Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. purchased a new position in shares of TransAct Technologies in the 3rd quarter worth $58,000. Goldman Sachs Group Inc. increased its position in TransAct Technologies by 33.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after acquiring an additional 5,100 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in TransAct Technologies during the third quarter valued at $151,000. Teton Advisors LLC bought a new position in TransAct Technologies in the third quarter valued at about $176,000. Finally, Susquehanna International Group LLP bought a new position in TransAct Technologies in the third quarter valued at about $225,000. 74.46% of the stock is owned by institutional investors.

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.