USA Technologies (NASDAQ:USAT) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of USA Technologies (NASDAQ:USAT) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other research firms also recently commented on USAT. Zacks Investment Research downgraded shares of Zynex from a hold rating to a sell rating in a research note on Saturday, May 4th. Lake Street Capital raised their target price on shares of USA Technologies from $4.50 to $7.00 and gave the company a hold rating in a research note 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. The stock currently has a consensus rating of Hold and a consensus price target of $8.00.

Shares of USA Technologies stock traded up $0.03 on Thursday, hitting $6.70. 7,376 shares of the company’s stock traded hands, compared to its average volume of 566,301. The firm has a 50-day moving average price of $7.30. USA Technologies has a one year low of $3.19 and a one year high of $16.83.

Institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC purchased a new stake in shares of USA Technologies during the 4th quarter valued at approximately $67,000. BlackRock Inc. lifted its stake in shares of USA Technologies by 4.5% during the 4th quarter. BlackRock Inc. now owns 3,893,655 shares of the technology company’s stock valued at $15,146,000 after buying an additional 166,102 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of USA Technologies by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 210,907 shares of the technology company’s stock valued at $820,000 after buying an additional 25,442 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of USA Technologies during the 4th quarter valued at approximately $56,000. Finally, Northern Trust Corp lifted its stake in shares of USA Technologies by 1.2% during the 4th quarter. Northern Trust Corp now owns 688,817 shares of the technology company’s stock valued at $2,681,000 after buying an additional 8,290 shares in the last quarter. 65.74% of the stock is owned by hedge funds and other institutional investors.

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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