StockNews.com Initiates Coverage on TransAct Technologies (NASDAQ:TACT)

Posted by on Apr 27th, 2023

Research analysts at StockNews.com began coverage on shares of TransAct Technologies (NASDAQ:TACT – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

TransAct Technologies Trading Up 2.0 %

Shares of NASDAQ TACT opened at $5.50 on Thursday. TransAct Technologies has a twelve month low of $3.60 and a twelve month high of $8.50. The stock has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.15. The stock has a market capitalization of $54.73 million, a PE ratio of -9.65 and a beta of 1.81.

TransAct Technologies (NASDAQ:TACT – Get Rating) last released its earnings results on Wednesday, March 8th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $17.96 million during the quarter, compared to analysts’ expectations of $15.90 million. TransAct Technologies had a negative return on equity of 16.60% and a negative net margin of 9.63%. On average, equities analysts predict that TransAct Technologies will post 0.13 earnings per share for the current year.

Institutional Trading of TransAct Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in TACT. Renaissance Technologies LLC raised its stake in TransAct Technologies by 11.6% during the 2nd quarter. Renaissance Technologies LLC now owns 382,636 shares of the technology company’s stock valued at $1,523,000 after acquiring an additional 39,773 shares during the last quarter. Jane Street Group LLC acquired a new position in TransAct Technologies during the 2nd quarter worth approximately $58,000. B. Riley Financial Inc. increased its position in TransAct Technologies by 2.0% during the 3rd quarter. B. Riley Financial Inc. now owns 1,002,140 shares of the technology company’s stock worth $3,658,000 after purchasing an additional 19,733 shares during the period. Summit Trail Advisors LLC increased its position in TransAct Technologies by 15.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 22,000 shares of the technology company’s stock worth $80,000 after purchasing an additional 3,000 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of TransAct Technologies in the 3rd quarter worth approximately $324,000. 50.91% of the stock is owned by hedge funds and other institutional investors.

About TransAct Technologies

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TransAct Technologies, Inc engages in the operation of a software-driven technology and printing solutions company. The company was founded in June 1996 and is headquartered in Hamden, CT.

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