Why USA Technologies, Inc. (USAT) Stock is Uptrending Strong (5.88%) Today

What just happened? USA Technologies, Inc. (NASDAQ:USAT) stock value has climbed by nearly 5.88% or (0.4 points) to $7.2 from its previous close of $6.8. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 106323 contracts so far this session. USAT shares had a relatively better volume day versus average trading capacity of 198.42 thousand shares, but with a 36.96 million float and a -3.95% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for USAT stock indicates that the average analyst price target is $9 per share. This means the stock has a potential increase of 25% from where the USAT share price has been trading recently.

During the recent trading session for USA Technologies, Inc. (NASDAQ:USAT), the company witnessed their stock rise $0.06 over a week and surge $0.2 from the price 20 days ago. When compared to their established 52-week high of $8.45, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 08/22/19. The recent low of $3.19 stood for a -14.79% since 07/02/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for USA Technologies, Inc., the two-week RSI stands at 57.14. This figure suggests that USAT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current USAT readings is similarly very revealing as it has a stochastic reading of 51.48% at this stage. This figure means that USAT share price today is being neutral.

Technical chart claims that USA Technologies, Inc. (USAT) would settle between $7.0133/share to $7.2267/share level. However, if the stock price goes below the $6.6233 mark, then the market for USA Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.4467 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.0556. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Lake Street raised their recommendation on shares of USAT from Hold to Buy in their opinion released on October 11. Craig Hallum, analysts launched coverage of USA Technologies, Inc. (NASDAQ:USAT) stock with a Buy recommendation, according to their flash note issued to investors on October 10. Analysts at Lake Street lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to February 11.

USAT equity has an average rating of 2.27, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated USA Technologies, Inc. (NASDAQ:USAT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, USAT stock price is currently trading at 61.82X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 32.6. USA Technologies, Inc. current P/B ratio of 4.3 means it is trading at a discount against its industry’s 10.6.