USA Technologies, Inc. (NASDAQ:USAT) Receives Average Rating of “Buy” from Brokerages

Shares of USA Technologies, Inc. (NASDAQ:USAT) have earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of brokerages recently commented on USAT. BidaskClub upgraded shares of USA Technologies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. ValuEngine upgraded shares of USA Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Northland Securities reiterated a “hold” rating on shares of USA Technologies in a research report on Friday, October 11th. Craig Hallum began coverage on shares of USA Technologies in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Lake Street Capital upgraded shares of USA Technologies from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Friday, October 11th.

In other news, major shareholder Hudson Executive Capital Lp acquired 1,176,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were purchased at an average price of $4.43 per share, for a total transaction of $5,209,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 1,564,200 shares of company stock worth $7,582,252 in the last 90 days. Corporate insiders own 4.43% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management increased its position in shares of USA Technologies by 31.0% during the second quarter. Sheets Smith Wealth Management now owns 27,661 shares of the technology company’s stock valued at $206,000 after buying an additional 6,543 shares during the period. Quantitative Systematic Strategies LLC increased its position in shares of USA Technologies by 48.4% during the second quarter. Quantitative Systematic Strategies LLC now owns 34,663 shares of the technology company’s stock valued at $258,000 after buying an additional 11,304 shares during the period. P.A.W. Capital Corp increased its position in shares of USA Technologies by 12.5% during the second quarter. P.A.W. Capital Corp now owns 360,000 shares of the technology company’s stock valued at $2,675,000 after buying an additional 40,000 shares during the period. Janus Henderson Group PLC purchased a new position in shares of USA Technologies during the second quarter valued at about $178,000. Finally, Kavar Capital Partners LLC purchased a new position in shares of USA Technologies during the second quarter valued at about $65,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.

Shares of NASDAQ:USAT opened at $7.09 on Wednesday. The company’s fifty day moving average is $6.12 and its 200 day moving average is $6.81. USA Technologies has a 52 week low of $3.19 and a 52 week high of $8.45.

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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