Wall Street Zen Downgrades TransAct Technologies (NASDAQ:TACT) to Buy

TransAct Technologies (NASDAQ:TACT) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of TransAct Technologies in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

TransAct Technologies Price Performance

NASDAQ TACT opened at $4.13 on Friday. The company’s fifty day moving average is $4.47 and its two-hundred day moving average is $4.28. TransAct Technologies has a 52-week low of $3.12 and a 52-week high of $5.70. The firm has a market capitalization of $41.75 million, a price-to-earnings ratio of -5.16 and a beta of 1.19.

TransAct Technologies (NASDAQ:TACT) last released its earnings results on Monday, November 10th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $13.10 million. As a group, sell-side analysts expect that TransAct Technologies will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC raised its holdings in TransAct Technologies by 31.2% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 544,259 shares of the technology company’s stock worth $1,992,000 after purchasing an additional 129,289 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of TransAct Technologies during the 3rd quarter worth about $290,000. Susquehanna International Group LLP bought a new stake in shares of TransAct Technologies in the 3rd quarter valued at about $225,000. Teton Advisors LLC acquired a new stake in shares of TransAct Technologies in the 3rd quarter valued at approximately $176,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in TransAct Technologies during the 3rd quarter worth approximately $151,000. 74.46% of the stock is currently owned by institutional investors.

About TransAct Technologies

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.