Zacks Investment Research cut shares of USA Technologies Inc. (NASDAQ:USAT) from a hold rating to a strong sell rating in a research report report published 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. The stock’s market cap is $208.63 million. USA Technologies has a 1-year low of $2.13 and a 1-year high of $5.53.

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 consensus estimate of $0.01 by $0.03. USA Technologies had a negative net margin of 8.79% and a negative return on equity of 1.46%. The company earned $21.90 million during the quarter. On average, analysts predict that USA Technologies will post $0.02 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Orinda Asset Management LLC bought a new position in shares of USA Technologies during the second quarter valued at about $1,278,000. California State Teachers Retirement System bought a new position in shares of USA Technologies during the second quarter valued at about $321,000. Bank of New York Mellon Corp boosted its stake in shares of USA Technologies by 154.3% in the second quarter. Bank of New York Mellon Corp now owns 103,597 shares of the company’s stock worth $442,000 after buying an additional 62,854 shares in the last quarter. Monarch Partners Asset Management LLC boosted its stake in shares of USA Technologies by 23.1% in the second quarter. Monarch Partners Asset Management LLC now owns 62,200 shares of the company’s stock worth $266,000 after buying an additional 11,660 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in shares of USA Technologies by 320.8% in the second quarter. Perkins Capital Management Inc. now owns 238,400 shares of the company’s stock worth $1,018,000 after buying an additional 181,750 shares in the last quarter. Institutional investors and hedge funds own 45.73% of the company’s stock.

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.

5 Day Chart for NASDAQ:USAT

Get a free copy of the Zacks research report on USA Technologies (USAT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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