Traders Buy High Volume of USA Technologies Put Options (USAT)

USA Technologies, Inc. (NASDAQ:USAT) saw unusually large options trading on Monday. Traders purchased 2,705 put options on the stock. This represents an increase of 863% compared to the average volume of 281 put options.

Several equities research analysts have issued reports on USAT shares. BidaskClub downgraded USA Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 23rd. Lake Street Capital restated a “buy” rating and set a $17.00 price objective on shares of USA Technologies in a report on Wednesday, June 13th. ValuEngine downgraded USA Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 28th. Finally, Zacks Investment Research upgraded USA Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $13.67.

Hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its position in shares of USA Technologies by 9.3% in the 2nd quarter. Northern Trust Corp now owns 611,829 shares of the technology company’s stock worth $8,565,000 after acquiring an additional 52,217 shares in the last quarter. Castleark Management LLC boosted its position in USA Technologies by 9.7% during the 2nd quarter. Castleark Management LLC now owns 811,120 shares of the technology company’s stock valued at $11,356,000 after purchasing an additional 71,956 shares during the period. Millennium Management LLC acquired a new position in USA Technologies during the 2nd quarter valued at approximately $2,369,000. Waddell & Reed Financial Inc. acquired a new position in USA Technologies during the 2nd quarter valued at approximately $20,600,000. Finally, Point72 Asset Management L.P. boosted its position in USA Technologies by 42.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 450,617 shares of the technology company’s stock valued at $6,309,000 after purchasing an additional 134,845 shares during the period. Institutional investors own 72.06% of the company’s stock.

USAT stock opened at $6.40 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. USA Technologies has a 52-week low of $5.85 and a 52-week high of $16.83. The company has a market cap of $432.01 million, a price-to-earnings ratio of -320.00 and a beta of 0.76.

USA Technologies Company Profile

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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