StockNews.com Begins Coverage on TransAct Technologies (NASDAQ:TACT)

StockNews.com assumed coverage on shares of TransAct Technologies (NASDAQ:TACT) in a research note issued to investors on Monday morning. The firm issued a buy rating on the technology company’s stock.

TransAct Technologies Stock Up 2.8 %

Shares of NASDAQ TACT opened at $4.45 on Monday. TransAct Technologies has a twelve month low of $3.32 and a twelve month high of $7.97. The stock’s 50 day moving average price is $4.13 and its 200-day moving average price is $4.37. The company has a market capitalization of $44.48 million, a PE ratio of 74.17 and a beta of 1.73.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Thursday, August 8th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.14. TransAct Technologies had a negative return on equity of 1.31% and a negative net margin of 0.97%. The firm had revenue of $11.60 million for the quarter, compared to the consensus estimate of $10.25 million. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, research analysts expect that TransAct Technologies will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of TACT. Bard Financial Services Inc. bought a new stake in shares of TransAct Technologies in the 1st quarter worth approximately $79,000. Victory Capital Management Inc. bought a new stake in shares of TransAct Technologies in the 4th quarter worth approximately $73,000. Connors Investor Services Inc. raised its holdings in shares of TransAct Technologies by 56.5% in the 2nd quarter. Connors Investor Services Inc. now owns 27,699 shares of the technology company’s stock worth $104,000 after purchasing an additional 9,999 shares during the period. Vanguard Group Inc. raised its holdings in shares of TransAct Technologies by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 3,821 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of TransAct Technologies by 8.6% in the 2nd quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock worth $143,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other 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.