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TransAct Technologies (NASDAQ:TACT) Earns Sell Rating From Analysts at StockNews.com

kopsource ·  Sep 7, 2022 01:31

StockNews.com assumed coverage on shares of TransAct Technologies (NASDAQ:TACT – Get Rating) in a research note issued to investors on Sunday morning. The firm issued a sell rating on the technology company's stock.

Separately, Barrington Research lowered their price target on shares of TransAct Technologies from $13.00 to $12.00 and set an outperform rating on the stock in a report on Thursday, August 18th.

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TransAct Technologies Stock Down 3.5 %

Shares of NASDAQ TACT opened at $4.43 on Friday. TransAct Technologies has a twelve month low of $3.60 and a twelve month high of $14.95. The stock's 50 day moving average price is $4.29 and its 200-day moving average price is $5.77. The company has a market capitalization of $43.90 million, a PE ratio of -7.13 and a beta of 1.76.

TransAct Technologies (NASDAQ:TACT – Get Rating) last announced its earnings results on Wednesday, August 17th. The technology company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.10. TransAct Technologies had a negative return on equity of 26.17% and a negative net margin of 14.10%. During the same period in the prior year, the firm posted ($0.24) EPS. As a group, research analysts expect that TransAct Technologies will post -1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On TransAct Technologies

A number of hedge funds have recently modified their holdings of TACT. Renaissance Technologies LLC raised its holdings in TransAct Technologies by 1.4% during the 4th quarter. Renaissance Technologies LLC now owns 349,547 shares of the technology company's stock valued at $3,810,000 after acquiring an additional 4,910 shares during the period. Summit Trail Advisors LLC raised its holdings in TransAct Technologies by 72.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 19,000 shares of the technology company's stock valued at $77,000 after acquiring an additional 8,000 shares during the period. Bard Associates Inc. raised its holdings in TransAct Technologies by 6.6% during the 2nd quarter. Bard Associates Inc. now owns 148,255 shares of the technology company's stock valued at $599,000 after acquiring an additional 9,200 shares during the period. Connors Investor Services Inc. raised its holdings in TransAct Technologies by 36.7% during the 2nd quarter. Connors Investor Services Inc. now owns 41,700 shares of the technology company's stock valued at $168,000 after acquiring an additional 11,200 shares during the period. Finally, Douglas Lane & Associates LLC bought a new stake in TransAct Technologies during the 2nd quarter valued at $56,000. Institutional investors own 56.71% of the company's stock.

About TransAct Technologies

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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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