The stock of TransAct Technologies Incorporated (NASDAQ:TACT) hit a new 52-week low and has $5.85 target or 10.00% below today’s $6.50 share price. The 7 months bearish chart indicates high risk for the $47.47 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $5.85 price target is reached, the company will be worth $4.75 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 7.80% or $0.55 on November 3, hitting $6.5. About 57,430 shares traded hands or 1396.74% up from the average. TransAct Technologies Incorporated (NASDAQ:TACT) has declined 16.27% since April 1, 2016 and is downtrending. It has underperformed by 17.48% the S&P500.
According to Zacks Investment Research, “TransAct Technologies, Incorporated, designs, develops, manufactures and markets transaction-based printers and related products under the ITHACA and MAGNETEC and TRANSACT.COM brand names. The company focuses on five vertical markets: point-of-sale(POS), gaming and lottery, financial services, kiosk and Internet. The company’s printers are trusted world-wide to provide crisp, clean transaction records from receipts, tickets and coupons, register journal and other documents.”
Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.01, from 1.06 in 2016Q1. The ratio improved, as 6 funds sold all TransAct Technologies Incorporated shares owned while 9 reduced positions. 5 funds bought stakes while 11 increased positions. They now own 2.63 million shares or 5.34% less from 2.78 million shares in 2016Q1.
Jpmorgan Chase &, a New York-based fund reported 500 shares. Manufacturers Life Insurance The accumulated 0% or 494 shares. California Pub Employees Retirement System owns 32,752 shares or 0% of their US portfolio. Gabelli Funds Limited Co reported 33,050 shares or 0% of all its holdings. The Pennsylvania-based Nationwide Fund has invested 0% in TransAct Technologies Incorporated (NASDAQ:TACT). Bridgeway Capital Mgmt has invested 0.02% of its portfolio in TransAct Technologies Incorporated (NASDAQ:TACT). Commercial Bank Of America De has invested 0% of its portfolio in TransAct Technologies Incorporated (NASDAQ:TACT). Blue Clay Cap Ltd has invested 0.66% of its portfolio in TransAct Technologies Incorporated (NASDAQ:TACT). Vanguard last reported 0% of its portfolio in the stock. Wells Fargo Mn last reported 4,929 shares in the company. Punch & Assocs Investment Management owns 100,600 shares or 0.09% of their US portfolio. Gamco Et Al owns 92,000 shares or 0% of their US portfolio. Blackrock Advisors Lc accumulated 0% or 2,692 shares. Moreover, Ancora Advsrs Ltd Llc has 0.04% invested in TransAct Technologies Incorporated (NASDAQ:TACT) for 48,058 shares. The Connecticut-based Manatuck Hill Limited Liability has invested 0.35% in TransAct Technologies Incorporated (NASDAQ:TACT).
Insider Transactions: Since May 16, 2016, the stock had 2 insider buys, and 1 sale for $69,896 net activity. The insider DILLON JOHN bought $35,100. SHULDMAN BART C sold 6,000 shares worth $44,004. $78,800 worth of TransAct Technologies Incorporated (NASDAQ:TACT) shares were bought by Newmark Andrew.
More news for TransAct Technologies Incorporated (NASDAQ:TACT) were recently published by: Businesswire.com, which released: “TransAct Technologies Reports 2016 Third Quarter Results” on November 02, 2016. Twst.com‘s article titled: “TransAct Technologies Incorporated: Transact Technologies to Report 2016 Third …” and published on October 19, 2016 is yet another important article.
TACT Company Profile
TransAct Technologies Incorporated (TransAct), incorporated on June 17, 1996, designs, develops and sells market-specific solutions, including printers, terminals, software and other products for transaction and other industries. The Firm operates through a segment, which includes design, development, assembly and marketing of transaction printers and terminals, and providing printer and terminal related software, services, supplies and spare parts. The Company’s thermal, inkjet and impact printers and terminals generate labels and transaction records, such as receipts, tickets, coupons, register journals and other documents, as well as printed logging, and plotting of oil field and well drilling data. TransAct’s products are sold under the AccuDate, Ithaca, RESPONDER, Epic, EPICENTRAL and Printrex brand names. The Firm focuses on various markets, such as food safety, banking and point-of-sale (POS), casino and gaming, lottery and Printrex, Inc. (Printrex), which serves the gas and oil, medical and mobile printing markets.
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