Essex Investment Management Co. LLC reduced its position in shares of USA Technologies Inc. (NASDAQ:USAT) by 1.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 149,157 shares of the company’s stock after selling 1,639 shares during the period. Essex Investment Management Co. LLC’s holdings in USA Technologies were worth $637,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in USA Technologies during the first quarter worth about $108,000. Royal Bank of Canada acquired a new position in USA Technologies during the first quarter worth about $186,000. Renaissance Technologies LLC acquired a new position in USA Technologies during the first quarter worth about $743,000. BlackRock Institutional Trust Company N.A. boosted its position in USA Technologies by 30.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 184,292 shares of the company’s stock worth $804,000 after buying an additional 43,405 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in USA Technologies by 12.9% in the first quarter. Geode Capital Management LLC now owns 198,511 shares of the company’s stock worth $865,000 after buying an additional 22,688 shares in the last quarter. Hedge funds and other institutional investors own 43.80% of the company’s stock.
USA Technologies Inc. (NASDAQ:USAT) traded up 1.08% during mid-day trading on Wednesday, hitting $5.59. The stock had a trading volume of 406,033 shares. USA Technologies Inc. has a 52 week low of $2.44 and a 52 week high of $5.81. The company’s 50 day moving average price is $5.25 and its 200 day moving average price is $4.62. The firm’s market cap is $214.39 million.
USA Technologies (NASDAQ:USAT) last posted its quarterly earnings results on Tuesday, September 13th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.03. The firm had revenue of $21.90 million for the quarter. USA Technologies had a negative return on equity of 1.46% and a negative net margin of 8.79%. Analysts anticipate that USA Technologies Inc. will post $0.02 earnings per share for the current year.
Separately, Zacks Investment Research upgraded USA Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 14th.
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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