Shares of USA Technologies, Inc. (NASDAQ:USAT) traded up 10.4% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $9.95 and last traded at $9.00. 1,818,618 shares traded hands during trading, an increase of 288% from the average session volume of 468,923 shares. The stock had previously closed at $8.15.

The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. USA Technologies had a positive return on equity of 2.44% and a negative net margin of 10.39%. The company had revenue of $32.51 million for the quarter, compared to analysts’ expectations of $31.38 million.

Several research analysts recently issued reports on the company. BidaskClub cut USA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Zacks Investment Research raised USA Technologies from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a research note on Friday, January 12th. Finally, Northland Securities set a $12.00 price objective on USA Technologies and gave the stock a “buy” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.50.

In other USA Technologies news, Director Albin F. Moschner sold 8,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $8.47, for a total transaction of $67,760.00. Following the sale, the director now owns 416,926 shares of the company’s stock, valued at approximately $3,531,363.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albin F. Moschner sold 20,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $8.25, for a total value of $165,000.00. Following the sale, the director now directly owns 422,926 shares in the company, valued at approximately $3,489,139.50. The disclosure for this sale can be found here. In the last three months, insiders sold 120,901 shares of company stock worth $1,080,337. 4.38% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Axiom International Investors LLC DE bought a new stake in USA Technologies during the 3rd quarter valued at $1,954,000. Ardsley Advisory Partners bought a new stake in USA Technologies during the 2nd quarter valued at $2,080,000. EAM Investors LLC bought a new stake in USA Technologies during the 3rd quarter valued at $3,096,000. Wells Fargo & Company MN boosted its position in USA Technologies by 16.0% during the 2nd quarter. Wells Fargo & Company MN now owns 716,928 shares of the technology company’s stock valued at $3,728,000 after acquiring an additional 99,035 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in USA Technologies during the 3rd quarter valued at $7,163,000. 50.77% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.38 and a current ratio of 2.67. The company has a market cap of $482.58, a PE ratio of 300.00 and a beta of 0.65.

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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 (POS) 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 unattended market segments, such as amusement, commercial laundry, kiosk and others.

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