USA Technologies, Inc. (NASDAQ:USAT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Separately, ValuEngine upgraded shares of USA Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.

Shares of USA Technologies (NASDAQ USAT) traded down 2.00% on Wednesday, hitting $4.90. 222,015 shares of the company traded hands. The company’s market capitalization is $197.62 million. USA Technologies has a 12 month low of $3.55 and a 12 month high of $5.81. The stock’s 50-day moving average price is $5.16 and its 200-day moving average price is $4.59.

USA Technologies (NASDAQ:USAT) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.00 EPS for the quarter. USA Technologies had a negative net margin of 3.23% and a negative return on equity of 3.51%. The firm had revenue of $26.46 million during the quarter, compared to the consensus estimate of $24.34 million. On average, equities analysts predict that USA Technologies will post ($0.01) earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in USAT. Russell Investments Group Ltd. purchased a new position in shares of USA Technologies during the fourth quarter worth approximately $137,000. Heartland Advisors Inc. purchased a new position in shares of USA Technologies during the first quarter worth approximately $2,550,000. Wells Fargo & Company MN increased its position in shares of USA Technologies by 10.4% in the first quarter. Wells Fargo & Company MN now owns 617,893 shares of the technology company’s stock worth $2,626,000 after buying an additional 58,070 shares during the last quarter. Granite Investment Partners LLC increased its position in shares of USA Technologies by 44.5% in the first quarter. Granite Investment Partners LLC now owns 736,740 shares of the technology company’s stock worth $3,131,000 after buying an additional 226,797 shares during the last quarter. Finally, State Street Corp increased its position in shares of USA Technologies by 4.1% in the fourth quarter. State Street Corp now owns 462,118 shares of the technology company’s stock worth $1,987,000 after buying an additional 17,993 shares during the last quarter. Hedge funds and other institutional investors own 44.37% 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 (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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