TransAct Technologies (NASDAQ:TACT) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• TransAct Technologies shares rose above their 200-day moving average, reaching $5.14 before closing at $5.01 on trading volume of 15,239 shares.
• Recent analyst actions were mixed but generally cautious: Weiss Ratings maintained a sell-oriented view while Wall Street Zen and Zacks Research upgraded the stock to hold. MarketBeat reports an overall “Reduce” rating.
• Institutional ownership is substantial, at 74.46%, with BlackRock, Bard Associates and Globeflex Capital among investors establishing or expanding positions.

TransAct Technologies Incorporated (NASDAQ:TACT - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.45 and traded as high as $5.14. TransAct Technologies shares last traded at $5.01, with a volume of 15,239 shares trading hands.

Analyst Ratings Changes

TACT has been the topic of several recent analyst reports. Weiss Ratings upgraded 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 note on Saturday, July 18th. Finally, Zacks Research upgraded shares of TransAct Technologies to a "hold" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce".

TransAct Technologies Price Performance

The stock has a fifty day moving average of $5.16 and a 200 day moving average of $4.45. The firm has a market capitalization of $51.70 million, a P/E ratio of -125.25 and a beta of 1.22.

Hedge Funds Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TACT. Globeflex Capital L P bought a new position in TransAct Technologies during the second quarter valued at about $258,000. Bard Associates Inc. purchased a new stake in shares of TransAct Technologies during the 2nd quarter worth approximately $597,000. BlackRock Inc. bought a new stake in shares of TransAct Technologies in the 2nd quarter worth approximately $1,413,000. NewEdge Advisors LLC lifted its stake in TransAct Technologies by 53.1% in the first quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company's stock valued at $447,000 after purchasing an additional 47,138 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in TransAct Technologies by 3.4% during the first quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company's stock valued at $494,000 after purchasing an additional 5,000 shares during the period. 74.46% of the stock is owned by hedge funds and other institutional investors.

About TransAct Technologies

TransAct Technologies Incorporated NASDAQ: TACT develops and sells transaction-based printing and technology solutions for specialized markets. Its products are designed for applications where reliable receipt, ticket, label and document printing is required, including gaming, lottery, food service and point-of-sale operations.

The company's product portfolio includes thermal printers and related consumables, as well as software and hardware solutions for casinos, gaming machine manufacturers, lottery operators and other businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.