USA Technologies (NASDAQ:USAT) Trading Up 5.3%

Shares of USA Technologies, Inc. (NASDAQ:USAT) were up 5.3% on Thursday . The company traded as high as $6.97 and last traded at $6.93, approximately 2,375,181 shares were traded during mid-day trading. An increase of 77% from the average daily volume of 1,338,461 shares. The stock had previously closed at $6.58.

A number of research analysts have recently weighed in on USAT shares. Zacks Investment Research cut USA Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. ValuEngine upgraded USA Technologies from a “hold” rating to a “buy” rating in a research report on Thursday. Lake Street Capital raised their price target on USA Technologies from $4.50 to $7.00 and gave the company a “hold” rating in a research report on Thursday, June 6th. Finally, BidaskClub cut USA Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. USA Technologies presently has a consensus rating of “Hold” and an average target price of $8.00.

The business has a 50-day moving average price of $7.18.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in USA Technologies by 929.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,860 shares of the technology company’s stock worth $49,000 after purchasing an additional 10,708 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in USA Technologies during the 4th quarter worth about $56,000. Kavar Capital Partners LLC purchased a new stake in USA Technologies during the 2nd quarter worth about $65,000. LPL Financial LLC purchased a new stake in USA Technologies during the 4th quarter worth about $67,000. Finally, Metropolitan Life Insurance Co. NY increased its position in 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. Hedge funds and other institutional investors own 65.75% of the company’s stock.

USA Technologies Company Profile (NASDAQ:USAT)

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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