TransAct Technologies Incorporated (NASDAQ: TACT) witnessed a commendable stabilization in its stock during the recent trading session, showcasing a modest uptick of 0.67% to settle at $7.54. This resilience in TACT stock is particularly noteworthy given the occurrence of insider selling.
According to a disclosure in the Securities and Exchange Commission (SEC) filing, B. Riley Financial, Inc., a significant 10% owner of TransAct (TACT), recently offloaded 28,842 company shares. The transaction, amounting to $216,942, transpired at an average price of $7.523 per share. Remarkably, the stability in the stock persisted despite this notable insider divestiture.
In a strategic move, TransAct (TACT) announced the attainment of approval from a prominent Quick Service Restaurant (QSR) to introduce its cutting-edge BOHA! Terminal 2 to the expansive U.S. domestic market. This milestone opens doors to a lucrative opportunity encompassing over 10,000 locations.
With the necessary approvals secured, TransAct wasted no time, initiating the dispatch of pre-orders and stocking orders within the United States and various international markets before the conclusion of 2023. Notably, this revelation follows the earlier announcement of overseas approval made during the Company’s Third Quarter 2023 earnings call.
The collaboration between TransAct teams and the global client played a pivotal role in ensuring that the BOHA! Terminal 2 aligns seamlessly with the client’s objectives, focusing on impeccable operational execution and heightened efficiency across all their establishments.
As part of its global launch strategy, TransAct has broadened the language support of BOHA! from three to over ten languages, facilitating the distribution of BOHA! T2 in fifteen countries.
The enthusiastic reception and pre-orders received from operators in both the U.S. and international markets have fueled TransAct’s optimism as the company strides into the promising landscape of 2024. This expansion not only underscores TransAct’s commitment to innovation but also positions the company as a frontrunner in the dynamic market landscape.
