USA Technologies, Inc. (NASDAQ:USAT) shot up 20.5% on Thursday following a better than expected earnings announcement. The stock traded as high as $4.85 and last traded at $4.70, with a volume of 674,666 shares changing hands. The stock had previously closed at $3.90.
The company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The firm earned $21.80 million during the quarter, compared to analyst estimates of $22.52 million. USA Technologies had a negative net margin of 9.95% and a negative return on equity of 4.70%.
Separately, Zacks Investment Research lowered shares of USA Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, January 11th.
Several hedge funds have recently modified their holdings of USAT. Hancock Holding Co. raised its stake in USA Technologies by 8.0% in the third quarter. Hancock Holding Co. now owns 27,086 shares of the company’s stock worth $152,000 after buying an additional 2,013 shares during the period. Russell Investments Group Ltd. acquired a new stake in USA Technologies during the fourth quarter worth $137,000. Thompson Davis & CO. Inc. raised its stake in USA Technologies by 134.4% in the third quarter. Thompson Davis & CO. Inc. now owns 35,750 shares of the company’s stock worth $200,000 after buying an additional 20,500 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in USA Technologies during the second quarter worth $241,000. Finally, Numeric Investors LLC acquired a new stake in USA Technologies during the second quarter worth $247,000. 42.32% of the stock is owned by hedge funds and other institutional investors.
The firm has a 50 day moving average price of $4.33 and a 200-day moving average price of $4.70. The firm’s market capitalization is $181.34 million.
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About USA Technologies
USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market segments, such as amusement, commercial laundry, kiosk and others.
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