USA Technologies, Inc. (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “
Shares of USA Technologies (NASDAQ:USAT) opened at 4.60 on Tuesday. The company has a 50-day moving average price of $4.35 and a 200-day moving average price of $4.70. USA Technologies has a 52-week low of $3.38 and a 52-week high of $5.81. The stock’s market capitalization is $185.50 million.
USA Technologies (NASDAQ:USAT) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. USA Technologies had a negative return on equity of 4.52% and a negative net margin of 9.95%. The business earned $21.80 million during the quarter, compared to analyst estimates of $22.52 million. On average, equities analysts anticipate that USA Technologies will post ($0.02) earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Granite Investment Partners LLC raised its stake in USA Technologies by 217.5% in the third quarter. Granite Investment Partners LLC now owns 552,894 shares of the company’s stock valued at $3,099,000 after buying an additional 378,776 shares in the last quarter. Orinda Asset Management LLC bought a new stake in USA Technologies during the second quarter valued at about $1,278,000. Schwab Charles Investment Management Inc. bought a new stake in USA Technologies during the second quarter valued at about $241,000. G2 Investment Partners Management LLC raised its stake in USA Technologies by 58.8% in the third quarter. G2 Investment Partners Management LLC now owns 206,787 shares of the company’s stock valued at $1,159,000 after buying an additional 76,530 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in USA Technologies by 154.3% in the second quarter. Bank of New York Mellon Corp now owns 103,597 shares of the company’s stock valued at $442,000 after buying an additional 62,854 shares in the last quarter. 41.70% of the stock is owned by institutional investors and hedge funds.
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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