USA Technologies Inc. (NASDAQ:USAT) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,557,815 shares, a decline of 35.0% from the September 15th total of 3,932,720 shares. Approximately 7.4% of the shares of the company are short sold. Based on an average daily trading volume, of 486,666 shares, the short-interest ratio is currently 5.3 days.
Separately, Zacks Investment Research downgraded USA Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 15th.
Shares of USA Technologies (NASDAQ:USAT) opened at 5.03 on Friday. USA Technologies has a one year low of $2.55 and a one year high of $5.81. The company’s 50-day moving average price is $5.27 and its 200 day moving average price is $4.66. The company’s market cap is $192.91 million.
USA Technologies (NASDAQ:USAT) last announced its quarterly earnings data on Tuesday, September 13th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $21.90 million for the quarter. USA Technologies had a negative net margin of 8.79% and a negative return on equity of 1.46%. Equities analysts forecast that USA Technologies will post $0.02 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in USA Technologies by 958.0% in the second quarter. BlackRock Fund Advisors now owns 937,399 shares of the company’s stock valued at $4,003,000 after buying an additional 848,801 shares during the period. Cortina Asset Management LLC raised its position in USA Technologies by 286.7% in the second quarter. Cortina Asset Management LLC now owns 805,793 shares of the company’s stock valued at $3,441,000 after buying an additional 597,417 shares during the period. Emerald Acquisition Ltd. acquired a new position in USA Technologies during the second quarter valued at about $1,764,000. State Street Corp raised its position in USA Technologies by 2,912.6% in the second quarter. State Street Corp now owns 361,517 shares of the company’s stock valued at $1,543,000 after buying an additional 349,517 shares during the period. Finally, Orinda Asset Management LLC acquired a new position in USA Technologies during the second quarter valued at about $1,278,000. 43.80% of the stock is owned by institutional investors and hedge funds.
USA Technologies Company Profile
USA Technologies, Inc provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale market. The Company is a provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other market segments, such as amusement, commercial laundry, kiosk and others.
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