USA Technologies (NASDAQ:USAT) Downgraded to Buy at BidaskClub

USA Technologies (NASDAQ:USAT) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Zynex from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Lake Street Capital upped their price objective on shares of USA Technologies from $4.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. USA Technologies currently has an average rating of “Hold” and a consensus price target of $8.00.

Shares of USAT stock traded down $0.04 during trading hours on Wednesday, hitting $6.67. The company’s stock had a trading volume of 1,078,242 shares, compared to its average volume of 1,377,208. The stock has a 50 day simple moving average of $7.31. USA Technologies has a 12-month low of $3.19 and a 12-month high of $16.83.

Several institutional investors and hedge funds have recently made changes to their positions in USAT. BNP Paribas Arbitrage SA grew its position in 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 buying an additional 10,708 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in USA Technologies in the 4th quarter valued at $56,000. LPL Financial LLC purchased a new stake in shares of USA Technologies during the 4th quarter worth $67,000. Metropolitan Life Insurance Co. NY boosted its position in shares of USA Technologies by 290.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 17,299 shares of the technology company’s stock worth $67,000 after purchasing an additional 12,873 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of USA Technologies by 37.9% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 23,359 shares of the technology company’s stock worth $97,000 after purchasing an additional 6,420 shares in the last quarter. 65.74% of the stock is owned by hedge funds and other institutional investors.

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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