Price Action Don’t Lie: Could USA Technologies, Inc. Change Direction After Making 52-Week High?

Price Action Don't Lie: Could USA Technologies, Inc. Change Direction After Making 52 Week High?

The stock of USA Technologies, Inc. (NASDAQ:USAT) hit a new 52-week high and has $8.29 target or 46.00% above today’s $5.68 share price. The 7 months bullish chart indicates low risk for the $220.34 million company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $8.29 price target is reached, the company will be worth $101.36 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 203,384 shares traded hands. USA Technologies, Inc. (NASDAQ:USAT) has risen 47.06% since February 26, 2016 and is uptrending. It has outperformed by 36.63% the S&P500.

USA Technologies, Inc. (NASDAQ:USAT) Ratings Coverage

Out of 2 analysts covering USA Tech (NASDAQ:USAT), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. USA Tech has been the topic of 2 analyst reports since September 14, 2015 according to StockzIntelligence Inc. As per Monday, November 16, the company rating was maintained by Northland Capital. The stock has “Outperform” rating given by Barrington Research on Monday, September 14.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.31, from 1.36 in 2016Q1. The ratio turned negative, as 21 funds sold all USA Technologies, Inc. shares owned while 22 reduced positions. 24 funds bought stakes while 21 increased positions. They now own 13.74 million shares or 18.36% more from 11.61 million shares in 2016Q1.
Magee Thomson Investment Partners Limited Liability Company holds 0% of its portfolio in USA Technologies, Inc. (NASDAQ:USAT) for 223 shares. Driehaus Cap Mgmt Ltd Limited Liability Company has invested 0.03% of its portfolio in USA Technologies, Inc. (NASDAQ:USAT). Interest Group Inc Inc, a New York-based fund reported 20,636 shares. Northern Tru Corp has 0% invested in the company for 111,483 shares. Perkins Cap has 238,400 shares for 1.17% of their US portfolio. Next Century Growth Invsts Limited Company, a Minnesota-based fund reported 1.22 million shares. Moreover, Vanguard Grp Incorporated has 0% invested in USA Technologies, Inc. (NASDAQ:USAT) for 1.30 million shares. Nationwide Fund Advsr last reported 0% of its portfolio in the stock. Blackrock Institutional Tru Na has invested 0% of its portfolio in USA Technologies, Inc. (NASDAQ:USAT). Rhumbline Advisers last reported 0% of its portfolio in the stock. Manufacturers Life Ins The has 0% invested in the company for 27,062 shares. Davidson owns 2,550 shares or 0% of their US portfolio. Thompson Davis And Inc reported 15,250 shares or 0.1% of all its holdings. Essex Invest Limited Com reported 149,157 shares or 0.11% of all its holdings. Commercial Bank Of New York Mellon accumulated 103,597 shares or 0% of the stock.

Insider Transactions: Since September 14, 2016, the stock had 1 buy, and 0 sales for $4,910 net activity. Reilly William J. Jr. bought $4,910 worth of USA Technologies, Inc. (NASDAQ:USAT) on Wednesday, September 14.

More news for USA Technologies, Inc. (NASDAQ:USAT) were recently published by: Businesswire.com, which released: “Coastal Canteen Vending and Food Services Inc. Expands Relationship with USA …” on August 10, 2016. Finance.Yahoo.com‘s article titled: “USA Technologies Schedules Fourth Quarter and Fiscal Year 2016 Earnings …” and published on September 06, 2016 is yet another important article.

USAT Company Profile

USA Technologies, Inc., incorporated on January 16, 1992, provides technology-enabled solutions and value-added services that facilitate electronic payment transactions within the unattended point of sale (POS) market. The Firm is a well-known provider in the small ticket, beverage and food vending industry and is also engaged in offering solutions and services to other unattended market divisions, such as amusement, commercial laundry, kiosk and others. It has designed and marketed systems and solutions that facilitate electronic payment options, as well as telemetry and machine-to-machine (M2M) services, which include the ability to remotely monitor, control and report on the results of distributed assets containing its electronic payment solutions. The Firm derives its revenues from license and transaction fees resulting from connections to, as well as services provided by, its ePort Connect service.

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