Zacks Investment Research Downgrades USA Technologies (USAT) to Hold

USA Technologies (NASDAQ:USAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

Several other research analysts have also recently weighed in on the company. BidaskClub raised USA Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. ValuEngine cut USA Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.92.

Shares of USAT stock opened at $5.42 on Thursday. USA Technologies has a fifty-two week low of $4.94 and a fifty-two week high of $16.83. The stock has a market cap of $350.40 million, a P/E ratio of 83.43 and a beta of 0.93. The company has a quick ratio of 1.08, a current ratio of 1.34 and a debt-to-equity ratio of 0.29.

Several large investors have recently added to or reduced their stakes in the stock. Trellus Management Company LLC boosted its position in shares of USA Technologies by 9.8% in the 2nd quarter. Trellus Management Company LLC now owns 84,400 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 7,500 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of USA Technologies by 7.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 110,563 shares of the technology company’s stock valued at $1,548,000 after purchasing an additional 7,900 shares during the period. Rhumbline Advisers boosted its position in shares of USA Technologies by 19.3% in the 2nd quarter. Rhumbline Advisers now owns 49,759 shares of the technology company’s stock valued at $697,000 after purchasing an additional 8,062 shares during the period. BlueMountain Capital Management LLC acquired a new position in shares of USA Technologies in the 2nd quarter valued at $147,000. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of USA Technologies in the 2nd quarter valued at $158,000. Institutional investors and hedge funds own 74.08% of the company’s stock.

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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