BidaskClub Upgrades USA Technologies (NASDAQ:USAT) to Strong-Buy

USA Technologies (NASDAQ:USAT) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Several other research firms also recently commented on USAT. Zacks Investment Research downgraded shares of USA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. ValuEngine upgraded shares of USA Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital upped their price target 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. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $8.00.

USAT stock opened at $8.24 on Wednesday. The company’s 50-day simple moving average is $7.13 and its 200 day simple moving average is $5.85. USA Technologies has a 52 week low of $3.19 and a 52 week high of $16.83.

In other news, major shareholder Hudson Executive Capital Lp acquired 1,000,252 shares of USA Technologies stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $6.93 per share, for a total transaction of $6,931,746.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.43% of the company’s stock.

A number of institutional investors have recently made changes to their positions in USAT. Hudson Executive Capital LP grew its stake in USA Technologies by 103.3% during the first quarter. Hudson Executive Capital LP now owns 2,948,840 shares of the technology company’s stock worth $12,238,000 after buying an additional 1,498,240 shares in the last quarter. Deutsche Bank AG grew its stake in USA Technologies by 427.3% during the fourth quarter. Deutsche Bank AG now owns 1,006,453 shares of the technology company’s stock worth $3,914,000 after buying an additional 815,585 shares in the last quarter. Wasatch Advisors Inc. grew its stake in USA Technologies by 52.8% during the first quarter. Wasatch Advisors Inc. now owns 1,718,713 shares of the technology company’s stock worth $7,133,000 after buying an additional 594,045 shares in the last quarter. Vanguard Group Inc. grew its stake in USA Technologies by 12.0% during the second quarter. Vanguard Group Inc. now owns 3,165,123 shares of the technology company’s stock worth $23,517,000 after buying an additional 339,514 shares in the last quarter. Finally, Sargent Investment Group LLC grew its stake in USA Technologies by 29.0% during the second quarter. Sargent Investment Group LLC now owns 1,105,626 shares of the technology company’s stock worth $8,215,000 after buying an additional 248,243 shares in the last quarter. Hedge funds and other institutional investors own 69.03% 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.

Read More: What are catch-up contributions?

Receive News & Ratings for USA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for USA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.