TransAct Technologies (NASDAQ:TACT) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.28 and traded as high as $4.30. TransAct Technologies shares last traded at $4.10, with a volume of 22,912 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on TACT. Weiss Ratings reiterated a “sell (d-)” rating on shares of TransAct Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised shares of TransAct Technologies from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 30th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, TransAct Technologies has a consensus rating of “Hold” and an average price target of $5.00.

TransAct Technologies Stock Down 2.4%

The company has a market cap of $41.45 million, a P/E ratio of -5.12 and a beta of 1.19. The firm’s 50-day moving average price is $4.55 and its 200-day moving average price is $4.28.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings data on Monday, November 10th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. TransAct Technologies had a negative net margin of 16.05% and a negative return on equity of 2.42%. The business had revenue of $13.18 million during the quarter, compared to analyst estimates of $13.10 million. As a group, analysts forecast that TransAct Technologies Incorporated will post -0.3 earnings per share for the current year.

Institutional Trading of TransAct Technologies

A number of institutional investors have recently added to or reduced their stakes in TACT. Coldstream Capital Management Inc. bought a new position in TransAct Technologies in the 3rd quarter worth about $58,000. Quinn Opportunity Partners LLC lifted its holdings in shares of TransAct Technologies by 68.3% in the second quarter. Quinn Opportunity Partners LLC now owns 64,288 shares of the technology company’s stock worth $235,000 after buying an additional 26,083 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of TransAct Technologies in the third quarter valued at approximately $151,000. Teton Advisors LLC purchased a new position in TransAct Technologies during the third quarter valued at approximately $176,000. Finally, Susquehanna International Group LLP bought a new stake in TransAct Technologies during the 3rd quarter worth approximately $225,000. 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.