TransAct Technologies (NASDAQ:TACT) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• TransAct Technologies shares crossed above their 200-day moving average, reaching $5.26 before closing at $5.14, compared with a 200-day average of $4.30.
• Analyst sentiment remains cautious: Zacks Research and Wall Street Zen upgraded the stock to “Hold,” while Weiss Ratings maintained a “Sell” rating. The consensus rating is “Reduce.”
• The company authorized a $3 million share buyback, allowing it to repurchase up to 8.7% of outstanding shares; institutional investors own approximately 74.46% of the stock.

TransAct Technologies Incorporated (NASDAQ:TACT - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.30 and traded as high as $5.26. TransAct Technologies shares last traded at $5.14, with a volume of 11,947 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded TransAct Technologies to a "hold" rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded 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 note on Tuesday, August 4th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce".

TransAct Technologies Trading Down 0.4%

The business has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $4.30. The stock has a market cap of $53.04 million, a PE ratio of -128.50 and a beta of 1.22.

TransAct Technologies announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On TransAct Technologies

Institutional investors have recently added to or reduced their stakes in the company. Bard Associates Inc. bought a new stake in shares of TransAct Technologies during the 2nd quarter valued at $597,000. Geode Capital Management LLC increased its stake in shares of TransAct Technologies by 4.3% in 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 in the last quarter. NewEdge Advisors LLC increased its stake in shares of TransAct Technologies by 66.1% in the 4th quarter. NewEdge Advisors LLC now owns 88,782 shares of the technology company's stock worth $355,000 after acquiring an additional 35,322 shares in the last quarter. Heron Bay Capital Management purchased a new position in TransAct Technologies during the 4th quarter valued at about $236,000. Finally, Susquehanna International Group LLP bought a new stake in TransAct Technologies during the third quarter worth about $225,000. 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.

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.

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