Stock Alert: TransAct Technologies Jumps 20% After Lifting Q3 Outlook

(RTTNews) - Shares of TransAct Technologies Inc. (TACT) is gaining nearly 20% on Tuesday morning after the computer hardware company lifted its third-quarter revenue outlook.

TACT is currently trading at $6.10, up $1.00 or 19.61%, on the Nasdaq.

TransAct now expects sales for the third quarter of $7.1 million to $7.3 million, up from prior expectation of $5.5 million to $6.0 million.

The company said its updated sales outlook includes about $1.4 million to $1.5 million of Food Service Technology recurring revenue, which was previously expected to be around $1.0 million.

TransAct Technologies develops software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, and oil and gas.