TransAct Technologies (NASDAQ:TACT) Shares Break Above Two Hundred Day Moving Average – Here’s Why

TransAct Technologies Incorporated (NASDAQ:TACT)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.56 and traded as high as $4.66. TransAct Technologies shares last traded at $4.59, with a volume of 8,217 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TACT shares. Weiss Ratings upgraded shares of TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of TransAct Technologies to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

TransAct Technologies Stock Performance

The stock has a market capitalization of $46.35 million, a P/E ratio of -112.25 and a beta of 1.25. The business has a 50 day simple moving average of $5.07 and a 200-day simple moving average of $4.56.

Institutional Investors Weigh In On TransAct Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Silverberg Bernstein Capital Management LLC lifted its holdings in TransAct Technologies by 1.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock valued at $1,945,000 after acquiring an additional 10,156 shares during the last quarter. BlackRock Inc. acquired a new position in shares of TransAct Technologies in the 2nd quarter worth approximately $1,413,000. Gamco Investors INC. ET AL raised its holdings in shares of TransAct Technologies by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock worth $494,000 after purchasing an additional 5,000 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of TransAct Technologies by 53.1% in the 1st quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock worth $447,000 after purchasing an additional 47,138 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in shares of TransAct Technologies in the 2nd quarter worth approximately $597,000. 74.46% of the stock is currently owned by institutional investors.

About TransAct Technologies

TransAct Technologies Incorporated develops and supplies transaction-based technology products and related services for specialized markets. The company designs, manufactures and supports thermal printers, print heads, software and other solutions used to produce receipts, tickets, coupons and other transaction documents.

Its products serve the gaming and lottery industries, including casino printers, ticketing solutions and systems designed to support casino operations. TransAct also provides solutions for food-service businesses, including its BOHA! ecosystem, which combines hardware, software and digital tools to help restaurants and other food-service operators manage operational tasks, food safety and compliance.

TransAct serves customers in North America and international markets through direct sales, distributors and other business relationships.