TransAct Technologies (NASDAQ:TACT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TransAct Technologies (NASDAQ:TACT) to a hold rating in a report published on Saturday.

A number of other brokerages have also issued reports on TACT. Weiss Ratings reissued 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 company. Based on data from MarketBeat, TransAct Technologies presently has a consensus rating of “Reduce”.

TransAct Technologies Price Performance

TransAct Technologies stock opened at $5.18 on Friday. TransAct Technologies has a 1-year low of $3.06 and a 1-year high of $6.02. The firm has a market capitalization of $53.25 million, a P/E ratio of -103.60 and a beta of 1.21. The company’s 50-day moving average is $4.78 and its 200 day moving average is $3.97.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.11. The business had revenue of $14.41 million during the quarter, compared to analyst estimates of $12.60 million. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%. Research analysts anticipate that TransAct Technologies will post -0.05 earnings per share for the current fiscal year.

TransAct Technologies announced that its board has initiated a stock repurchase plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On TransAct Technologies

A number of institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of TransAct Technologies by 66.1% during the fourth quarter. NewEdge Advisors LLC now owns 88,782 shares of the technology company’s stock valued at $355,000 after acquiring an additional 35,322 shares in the last quarter. Heron Bay Capital Management bought a new position in TransAct Technologies in the fourth quarter worth approximately $236,000. Renaissance Technologies LLC grew its stake in TransAct Technologies by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock worth $1,670,000 after purchasing an additional 18,122 shares in the last quarter. Geode Capital Management LLC grew its stake in TransAct Technologies by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after purchasing an additional 4,742 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in TransAct Technologies during the 3rd quarter worth $225,000. 74.46% of the stock is owned by hedge funds and other 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.