Zacks Investment Research downgraded shares of USA Technologies Inc. (NASDAQ:USAT) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning.

According to Zacks, “USA Technologies is a leader in the networking of distributed assets, wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, MEI, Unilever and ZiLOG Corporation. “

Shares of USA Technologies (NASDAQ:USAT) opened at 5.44 on Thursday. The stock’s 50 day moving average is $5.02 and its 200 day moving average is $4.48. USA Technologies has a 12 month low of $2.13 and a 12 month high of $5.53. The stock’s market capitalization is $208.63 million.

USA Technologies (NASDAQ:USAT) last issued its earnings results on Tuesday, September 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.03. USA Technologies had a negative return on equity of 1.46% and a negative net margin of 8.79%. The business had revenue of $21.90 million for the quarter. Analysts anticipate that USA Technologies will post $0.02 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hancock Holding Co. purchased a new position in USA Technologies during the second quarter worth $107,000. Acrospire Investment Management LLC purchased a new position in USA Technologies during the first quarter worth $108,000. Highbridge Capital Management LLC purchased a new position in USA Technologies during the second quarter worth $108,000. Eaton Vance Management purchased a new position in USA Technologies during the second quarter worth $119,000. Finally, Rhumbline Advisers purchased a new position in USA Technologies during the second quarter worth $131,000. 45.73% of the stock is owned by institutional investors.

About USA Technologies

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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