TransAct Technologies (NASDAQ:TACT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.08 and traded as high as $5.84. TransAct Technologies shares last traded at $5.64, with a volume of 29,797 shares changing hands.

Analysts Set New Price Targets

TACT has been the topic of several analyst reports. Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a report on Wednesday, June 3rd. Wall Street Zen raised TransAct Technologies to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

TransAct Technologies Stock Up 0.5%

The company’s 50-day moving average is $5.11 and its two-hundred day moving average is $4.08. The company has a market cap of $57.98 million, a P/E ratio of -112.80 and a beta of 1.20.

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

TransAct Technologies announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 13th that authorizes the company to buyback $3.00 million in shares. This buyback authorization authorizes the technology company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On TransAct Technologies

Institutional investors have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC increased its position in TransAct Technologies by 1.7% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock worth $1,945,000 after buying an additional 10,156 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after buying an additional 18,122 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of TransAct Technologies by 3.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock valued at $494,000 after buying an additional 5,000 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of TransAct Technologies by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock worth $447,000 after acquiring an additional 47,138 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after acquiring an additional 4,742 shares during the period. Hedge funds and other institutional investors own 74.46% of the company’s stock.

TransAct Technologies Company Profile

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.