Craig Hallum Lowers TransAct Technologies (NASDAQ:TACT) Price Target to $7.50

TransAct Technologies (NASDAQ:TACT) had its target price dropped by Craig Hallum from $9.00 to $7.50 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective suggests a potential upside of 100.00% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of TransAct Technologies in a research note on Tuesday, April 30th. They set a “buy” rating for the company.

TransAct Technologies Stock Down 4.3 %

Shares of TransAct Technologies stock traded down $0.17 on Wednesday, reaching $3.75. The stock had a trading volume of 37,786 shares, compared to its average volume of 22,518. The company has a 50 day moving average price of $5.37 and a 200 day moving average price of $6.44. TransAct Technologies has a 1 year low of $3.72 and a 1 year high of $9.44. The stock has a market capitalization of $37.35 million, a P/E ratio of 7.98 and a beta of 1.86.

TransAct Technologies (NASDAQ:TACT) last released its earnings results on Tuesday, March 12th. The technology company reported ($0.01) earnings per share for the quarter. The company had revenue of $13.27 million for the quarter, compared to analysts’ expectations of $13.90 million. TransAct Technologies had a return on equity of 15.96% and a net margin of 6.54%. On average, analysts forecast that TransAct Technologies will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TransAct Technologies

Several large investors have recently made changes to their positions in the company. Bard Financial Services Inc. acquired a new position in shares of TransAct Technologies in the 1st quarter valued at $79,000. Bard Associates Inc. grew its position in shares of TransAct Technologies by 1.1% in the fourth quarter. Bard Associates Inc. now owns 155,975 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 1,750 shares during the period. Summit Trail Advisors LLC increased its stake in shares of TransAct Technologies by 15.0% during the fourth quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock worth $133,000 after purchasing an additional 2,483 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of TransAct Technologies during the 4th quarter worth about $73,000. Finally, Silverberg Bernstein Capital Management LLC purchased a new position in TransAct Technologies in the 4th quarter valued at about $2,873,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.

TransAct Technologies Company Profile

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.