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TransAct Technologies Incorporated (TACT) Stock Jumps 6.8%: Will It Continue to Soar?

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TransAct Technologies Incorporated (TACT - Free Report) shares rallied 6.8% in the last trading session to close at $6.76. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.7% loss over the past four weeks.

TransAct is riding on the rising need for transaction-based printers and related products. It is benefiting from growing demand for its products and services amid accelerated digital transformation and business automation across organizations. The company's printers are trusted worldwide to provide crisp, clean transaction records from receipts, tickets and coupons, register journals and other documents.

This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -120%. Revenues are expected to be $15.55 million, down 12.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For TransAct Technologies Incorporated, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TACT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

TransAct Technologies Incorporated belongs to the Zacks Computer - Peripheral Equipment industry. Another stock from the same industry, Immersion (IMMR - Free Report) , closed the last trading session 1.9% lower at $6.72. Over the past month, IMMR has returned 0.4%.

For Immersion, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.12. This represents a change of -57.1% from what the company reported a year ago. Immersion currently has a Zacks Rank of #4 (Sell).


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