TransAct Technologies (NASDAQ:TACT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of TransAct Technologies (NASDAQ:TACT – Get Rating) in a report issued on Sunday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Barrington Research dropped their target price on TransAct Technologies from $20.00 to $15.00 in a report on Thursday, March 10th. Roth Capital decreased their price target on TransAct Technologies from $21.00 to $14.00 in a research report on Thursday, March 10th. Zacks Investment Research lowered TransAct Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. Finally, Craig Hallum decreased their price target on TransAct Technologies from $20.00 to $12.00 in a research report on Thursday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.67.

Shares of TACT opened at $4.32 on Friday. TransAct Technologies has a 1 year low of $4.15 and a 1 year high of $17.18. The stock has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $8.67. The stock has a market cap of $42.81 million, a PE ratio of -6.86 and a beta of 1.85.

TransAct Technologies (NASDAQ:TACT – Get Rating) last issued its earnings results on Tuesday, May 10th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.21). TransAct Technologies had a negative return on equity of 26.51% and a negative net margin of 14.59%. The company had revenue of $9.70 million during the quarter, compared to analyst estimates of $11.48 million. As a group, analysts anticipate that TransAct Technologies will post -0.9 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in TACT. Morgan Stanley boosted its position in TransAct Technologies by 6.6% in the 2nd quarter. Morgan Stanley now owns 18,266 shares of the technology company’s stock valued at $251,000 after buying an additional 1,134 shares during the last quarter. Barclays PLC boosted its position in TransAct Technologies by 238.0% in the 3rd quarter. Barclays PLC now owns 2,552 shares of the technology company’s stock valued at $35,000 after buying an additional 1,797 shares during the last quarter. Geode Capital Management LLC boosted its position in TransAct Technologies by 45.7% in the 3rd quarter. Geode Capital Management LLC now owns 64,676 shares of the technology company’s stock valued at $898,000 after buying an additional 20,274 shares during the last quarter. Wasatch Advisors Inc. bought a new position in TransAct Technologies in the 3rd quarter valued at $6,734,000. Finally, Harbert Fund Advisors Inc. boosted its position in TransAct Technologies by 4.7% in the 3rd quarter. Harbert Fund Advisors Inc. now owns 604,061 shares of the technology company’s stock valued at $8,396,000 after buying an additional 26,947 shares during the last quarter. Hedge funds and other institutional investors own 74.60% of the company’s stock.

TransAct Technologies Company Profile (Get Rating)

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. Its thermal printers and terminals to generates labels, coupons, and transaction records, such as receipts, tickets, and other documents, as well as printed logging and plotting of data.

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