Shares of USA Technologies, Inc. (NASDAQ:USAT) dropped 9.9% during mid-day trading on Wednesday . The company traded as low as $14.55 and last traded at $14.60. Approximately 1,003,077 shares traded hands during trading, an increase of 68% from the average daily volume of 595,984 shares. The stock had previously closed at $16.20.
Several research firms have weighed in on USAT. BidaskClub cut USA Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research raised USA Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $17.00 price target on shares of USA Technologies in a report on Wednesday, June 13th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. USA Technologies has an average rating of “Buy” and a consensus target price of $13.67.
The firm has a market cap of $876.01 million, a price-to-earnings ratio of -767.50 and a beta of 0.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.34 and a quick ratio of 1.08.
Several large investors have recently added to or reduced their stakes in USAT. Wells Fargo & Company MN raised its holdings in shares of USA Technologies by 9.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,126,397 shares of the technology company’s stock valued at $10,138,000 after acquiring an additional 93,257 shares in the last quarter. Mackay Shields LLC purchased a new stake in shares of USA Technologies in the 1st quarter valued at about $382,000. Northern Trust Corp raised its holdings in shares of USA Technologies by 2.9% in the 1st quarter. Northern Trust Corp now owns 559,612 shares of the technology company’s stock valued at $5,037,000 after acquiring an additional 15,954 shares in the last quarter. BlackRock Inc. raised its holdings in shares of USA Technologies by 33.7% in the 1st quarter. BlackRock Inc. now owns 3,118,797 shares of the technology company’s stock valued at $28,070,000 after acquiring an additional 785,778 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of USA Technologies by 156.4% in the 1st quarter. JPMorgan Chase & Co. now owns 336,268 shares of the technology company’s stock valued at $3,027,000 after acquiring an additional 205,131 shares in the last quarter. 71.97% of the stock is currently owned by hedge funds and other institutional investors.
USA Technologies Company Profile (NASDAQ:USAT)
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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