Usio (NASDAQ:USIO) Shares Down 1.4% – Here’s What Happened

Usio, Inc. (NASDAQ:USIO)’s stock price dropped 1.4% on Wednesday . The company traded as low as $1.45 and last traded at $1.46. Approximately 27,455 shares changed hands during trading, a decline of 28% from the average daily volume of 38,173 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Usio in a research note on Friday, August 16th.

Usio Stock Performance

The company has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.48. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $36.90 million, a PE ratio of 15.11 and a beta of 1.73.

Institutional Investors Weigh In On Usio

Several hedge funds have recently modified their holdings of the stock. Perritt Capital Management Inc increased its stake in Usio by 35.7% in the 2nd quarter. Perritt Capital Management Inc now owns 380,000 shares of the company’s stock valued at $581,000 after buying an additional 100,000 shares during the period. Creative Planning acquired a new position in shares of Usio during the third quarter worth about $58,000. Whittier Trust Co. purchased a new position in Usio during the third quarter worth about $3,821,000. Finally, Geode Capital Management LLC lifted its position in Usio by 5.6% in the third quarter. Geode Capital Management LLC now owns 182,116 shares of the company’s stock valued at $248,000 after purchasing an additional 9,731 shares during the period. 20.23% of the stock is owned by institutional investors and hedge funds.

About Usio

Usio, Inc, together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company offers various types of automated clearing house (ACH) processing; and credit, prepaid card, and debit card-based processing services. Its ACH transaction processing services include Represented Check and Check Conversion for electronic payment facilitation.