Shares of USA Technologies, Inc. (NASDAQ:USAT) gapped down prior to trading on Wednesday . The stock had previously closed at $9.40, but opened at $9.70. USA Technologies shares last traded at $10.15, with a volume of 89546 shares changing hands.

A number of analysts have issued reports on the stock. BidaskClub raised shares of USA Technologies from a “hold” rating to a “buy” rating in a report on Thursday, August 30th. Zacks Investment Research raised shares of USA Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Lake Street Capital reissued a “buy” rating and issued a $17.00 price objective on shares of USA Technologies in a report on Wednesday, June 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. USA Technologies has an average rating of “Buy” and a consensus target price of $13.67.

The stock has a market cap of $552.01 million, a P/E ratio of -545.00 and a beta of 0.59. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.34.

Several large investors have recently modified their holdings of USAT. Waddell & Reed Financial Inc. acquired a new position in shares of USA Technologies in the 2nd quarter valued at approximately $20,600,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of USA Technologies by 364.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,635,291 shares of the technology company’s stock valued at $22,894,000 after buying an additional 1,283,278 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of USA Technologies in the 2nd quarter valued at approximately $17,044,000. Allianz Asset Management GmbH raised its position in shares of USA Technologies by 127.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,450,659 shares of the technology company’s stock valued at $13,056,000 after buying an additional 813,622 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of USA Technologies by 33.7% in the 1st quarter. BlackRock Inc. now owns 3,118,797 shares of the technology company’s stock valued at $28,070,000 after buying an additional 785,778 shares in the last quarter. Institutional investors own 72.06% of the company’s stock.

USA Technologies Company Profile (NASDAQ:USAT)

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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