TransAct Technologies (NASDAQ:TACT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of TransAct Technologies Incorporated (NASDAQ:TACT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.91 and traded as high as $5.38. TransAct Technologies shares last traded at $5.20, with a volume of 11,163 shares.

TransAct Technologies Price Performance

The business’s 50 day moving average price is $4.44 and its 200 day moving average price is $3.91. The stock has a market capitalization of $52.47 million, a P/E ratio of -6.05 and a beta of 1.09.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $13.80 million for the quarter, compared to the consensus estimate of $12.55 million. TransAct Technologies had a negative return on equity of 4.02% and a negative net margin of 18.00%. As a group, analysts forecast that TransAct Technologies Incorporated will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TransAct Technologies

A hedge fund recently raised its stake in TransAct Technologies stock. Quinn Opportunity Partners LLC lifted its position in TransAct Technologies Incorporated (NASDAQ:TACT) by 68.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,288 shares of the technology company’s stock after buying an additional 26,083 shares during the period. Quinn Opportunity Partners LLC owned approximately 0.64% of TransAct Technologies worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 74.46% of the stock is currently owned by institutional investors.

About TransAct Technologies

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.