BidaskClub Downgrades USA Technologies (NASDAQ:USAT) to Hold

BidaskClub downgraded shares of USA Technologies (NASDAQ:USAT) from a buy rating to a hold rating in a report issued on Thursday, BidAskClub reports.

USAT has been the topic of several other research reports. Zacks Investment Research downgraded Zynex from a hold rating to a sell rating in a report on Saturday, May 4th. Lake Street Capital increased their price objective on USA Technologies from $4.50 to $7.00 and gave the company a hold rating in a report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. USA Technologies currently has a consensus rating of Hold and an average target price of $8.00.

Shares of NASDAQ USAT opened at $6.70 on Thursday. The business’s 50-day moving average is $7.30. USA Technologies has a 1-year low of $3.19 and a 1-year high of $16.83.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its holdings in shares of USA Technologies by 929.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,860 shares of the technology company’s stock valued at $49,000 after acquiring an additional 10,708 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of USA Technologies in the 4th quarter valued at about $56,000. LPL Financial LLC purchased a new position in shares of USA Technologies in the 4th quarter valued at about $67,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of USA Technologies by 290.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 17,299 shares of the technology company’s stock valued at $67,000 after acquiring an additional 12,873 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC increased its holdings in shares of USA Technologies by 37.9% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 23,359 shares of the technology company’s stock valued at $97,000 after acquiring an additional 6,420 shares during the last quarter. Institutional investors and hedge funds own 65.74% of the company’s stock.

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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