USA Technologies Inc. (USAT) Rating Increased to Hold at Zacks Investment Research
USA Technologies Inc. (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
USA Technologies (NASDAQ:USAT) opened at 4.30 on Wednesday. USA Technologies has a 12 month low of $2.69 and a 12 month high of $5.81. The company has a 50-day moving average of $4.67 and a 200-day moving average of $4.68. The company’s market cap is $173.28 million.
USA Technologies (NASDAQ:USAT) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.04. USA Technologies had a negative net margin of 11.69% and a negative return on equity of 3.92%. The business earned $21.60 million during the quarter, compared to the consensus estimate of $21.31 million. Analysts predict that USA Technologies will post ($0.02) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of USAT. Vanguard Group Inc. boosted its position in shares of USA Technologies by 11.7% in the second quarter. Vanguard Group Inc. now owns 1,297,670 shares of the company’s stock valued at $5,541,000 after buying an additional 135,815 shares during the period. BlackRock Fund Advisors boosted its position in shares of USA Technologies by 6.7% in the third quarter. BlackRock Fund Advisors now owns 1,000,374 shares of the company’s stock valued at $5,607,000 after buying an additional 62,975 shares during the period. Cortina Asset Management LLC boosted its position in shares of USA Technologies by 286.7% in the second quarter. Cortina Asset Management LLC now owns 805,793 shares of the company’s stock valued at $3,441,000 after buying an additional 597,417 shares during the period. Granite Investment Partners LLC boosted its position in shares of 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 during the period. Finally, Emerald Acquisition Ltd. boosted its position in shares of USA Technologies by 20.1% in the third quarter. Emerald Acquisition Ltd. now owns 496,435 shares of the company’s stock valued at $2,782,000 after buying an additional 83,216 shares during the period. 42.38% of the stock is owned by hedge funds and other institutional investors.
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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 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 market segments, such as amusement, commercial laundry, kiosk and others.
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