ValuEngine Upgrades USA Technologies (NASDAQ:USAT) to “Buy”

USA Technologies (NASDAQ:USAT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Several other equities research analysts also recently weighed in on USAT. Lake Street Capital upped their target price on USA Technologies from $4.50 to $7.00 and gave the stock a “hold” rating in a research report on Thursday, June 6th. BidaskClub downgraded USA Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research downgraded USA Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $8.00.

Shares of NASDAQ USAT traded up $0.07 on Thursday, hitting $7.00. The company had a trading volume of 1,088,553 shares, compared to its average volume of 576,452. USA Technologies has a 12-month low of $3.19 and a 12-month high of $16.83. The company has a 50 day moving average price of $7.18.

Hedge funds and other institutional investors have recently modified their holdings of the company. Kavar Capital Partners LLC purchased a new stake in shares of USA Technologies in the second quarter worth about $65,000. BNP Paribas Arbitrage SA boosted its holdings in USA Technologies by 929.5% in the first quarter. BNP Paribas Arbitrage SA now owns 11,860 shares of the technology company’s stock valued at $49,000 after purchasing an additional 10,708 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in USA Technologies in the fourth quarter valued at about $56,000. LPL Financial LLC purchased a new position in USA Technologies in the fourth quarter valued at about $67,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in USA Technologies by 290.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,299 shares of the technology company’s stock valued at $67,000 after purchasing an additional 12,873 shares during the last quarter. 65.75% of the stock is owned by 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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