Stock On Watch: Is Selling 52-Week Stock Like TransAct Technologies Incorporated a Winning Strategy?

Stock On Watch: Is Selling 52 Week Stock Like TransAct Technologies Incorporated a Winning Strategy?

The stock of TransAct Technologies Incorporated (NASDAQ:TACT) hit a new 52-week low and has $5.72 target or 10.00% below today’s $6.35 share price. The 5 months bearish chart indicates high risk for the $44.89 million company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $5.72 price target is reached, the company will be worth $4.49M 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 last traded at $6.35 per share. It is up 19.82% since April 7, 2016 and is downtrending. It has underperformed by 24.61% 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.
Lsv Asset Mngmt owns 28,700 shares or 0% of their US portfolio. Geode Capital Mgmt Ltd, a Massachusetts-based fund reported 33,579 shares. Manatuck Hill Lc holds 0.35% of its portfolio in TransAct Technologies Incorporated (NASDAQ:TACT) for 98,500 shares. Eagle Glob Advsr Lc accumulated 50,152 shares or 0.01% of the stock. The New York-based Renaissance Llc has invested 0.01% in TransAct Technologies Incorporated (NASDAQ:TACT). California Employees Retirement last reported 0% of its portfolio in the stock. Deutsche Commercial Bank Ag last reported 0% of its portfolio in the stock. Gabelli Funds Ltd accumulated 33,050 shares or 0% of the stock. Ancora Ltd Llc owns 48,058 shares or 0.04% of their US portfolio. Spark Mgmt Ltd Llc holds 0.02% or 20,400 shares in its portfolio. Teton accumulated 0.1% or 133,200 shares. Blue Clay Cap Ltd Liability Corp has 70,572 shares for 0.66% of their US portfolio. Manufacturers Life The has 494 shares for 0% of their US portfolio. Gamco Invsts Et Al reported 92,000 shares or 0% of all its holdings. Punch Associate Inv Mngmt Inc accumulated 0.09% or 100,600 shares.

Insider Transactions: Since May 16, 2016, the stock had 2 insider purchases, and 1 insider sale for $69,896 net activity. Another trade for 6,000 shares valued at $44,004 was made by SHULDMAN BART C on Tuesday, September 13. $35,100 worth of shares were bought by DILLON JOHN on Wednesday, June 15. Newmark Andrew had bought 10,000 shares worth $78,800.

Another recent and important TransAct Technologies Incorporated (NASDAQ:TACT) news was published by Seekingalpha.com which published an article titled: “TransAct Technologies’ (TACT) CEO Bart Shuldman on Q3 2016 Results – Earnings …” on November 03, 2016.

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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