5 Best Affordable Tech Stocks To Buy According to Analysts

2. TransAct Technologies Incorporated (NASDAQ:TACT)

Number of Hedge Fund Holders: 6

Upside Potential: 65.4%

Share Price: $5.4

P/E ratio: 11.5

Craig-Hallum analysts hold a Buy rating and $9 price target on TransAct Technologies Incorporated (NASDAQ:TACT) as of March 13.

Six hedge funds were long TransAct Technologies Incorporated (NASDAQ:TACT) in the fourth quarter, with a total stake value of $15.3 million.

TransAct Technologies Incorporated (NASDAQ:TACT) is a tech hardware, storage, and peripherals company. It develops transaction-based and specialty printers and terminals.

Laughing Water Capital said the following about TransAct Technologies Incorporated (NASDAQ:TACT) in its second-quarter 2023 investor letter:

“TransAct Technologies Incorporated (NASDAQ:TACT) – TACT is the leading manufacturer of slot machine printers, and has also been developing a restaurant back-of-house software product called BOHA!. In April it was announced that after 27 years, there would be a change to Transact’s CEO. I cannot be certain, but I believe this was a result of pressure from activists, and in my view, it was past time for a change. My estimate of the value of BOHA! has admittedly come down as interest rates have gone up and software multiples everywhere have declined. However, my estimate of the value of the slot printer business has gone up as Transact has been taking share from their only real competitor, who has been facing production issues. From here, I think it is likely that the activists attempt to sell one or both businesses in the not-too-distant future in order to unlock value.”