Manatuck Hill Partners LLC reduced its stake in shares of USA Technologies, Inc. (NASDAQ:USAT) by 11.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 59,300 shares of the technology company’s stock after selling 7,700 shares during the period. Manatuck Hill Partners LLC’s holdings in USA Technologies were worth $830,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in USAT. BlueMountain Capital Management LLC bought a new stake in shares of USA Technologies during the 2nd quarter worth $147,000. Fortaleza Asset Management Inc. bought a new stake in shares of USA Technologies during the 2nd quarter worth $158,000. Bayesian Capital Management LP bought a new stake in shares of USA Technologies during the 1st quarter worth $120,000. Diker Management LLC bought a new stake in shares of USA Technologies during the 1st quarter worth $315,000. Finally, Cynosure Advisors LLC lifted its position in shares of USA Technologies by 52.2% during the 1st quarter. Cynosure Advisors LLC now owns 36,156 shares of the technology company’s stock worth $325,000 after buying an additional 12,404 shares during the last quarter. 71.97% of the stock is currently owned by institutional investors.
Shares of USAT stock opened at $14.60 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.34 and a debt-to-equity ratio of 0.29. USA Technologies, Inc. has a twelve month low of $5.11 and a twelve month high of $16.83. The firm has a market cap of $975.02 million, a P/E ratio of -730.00 and a beta of 0.59.
Several analysts recently weighed in on USAT shares. BidaskClub upgraded USA Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Lake Street Capital restated a “buy” rating and set a $17.00 price objective on shares of USA Technologies in a research report on Wednesday, June 13th. Finally, Zacks Investment Research upgraded USA Technologies from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. USA Technologies presently has an average rating of “Buy” and an average target price of $13.67.
About USA Technologies
USA Technologies, Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services in the United States and internationally. It designs and markets systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services.
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