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Weekly: USA Technologies hits year-high 4th time in three months



News Bites US Markets
February 19, 2011

USA Technologies (USAT.O), NASDAQ's 16th largest Computer Integrated Systems company by market capitalisation, hit a 52-week high of US$2.23 during the week. In the last three months the stock has hit a new 52-week high four times, pointing to an uptrend. The stock rose for a second week on Friday. The share price strengthened 1.0c (or 0.5%) to US$2.04 in the week ending Friday February 18. Compared with the NASDAQ-100 index which rose 13.3 points (or 0.6%) in the week, this represented a relative price change of -0.1%.

PRICE VOLUME DYNAMICS

Volatility: the stock traded between an intraweek low of US$1.91 and a high of US$2.23.

moving average price (MAP): The price to 200-day MAP ratio is 2.08, a bullish indicator. In the past 200 days this ratio has exceeded 2.08 eight times suggesting further upside. The stock is trading above both its MAPs and the 50-day MAP of US$1.47 is higher than the 200-day MAP of 97.86c, a bullish indicator. The 200-day MAP has increased to 97.86c. An increase is another bullish indicator.

Exponential Moving Average Price (EMAP) [with higher weightage to recent prices]: the price to 50-day EMAP ratio is 1.3, a bullish indicator. In the past 50 days this ratio has exceeded 1.3 15 times suggesting further upside. The 50-day EMAP has increased to US$1.597. An increase is another bullish indicator.

Relativities: in the NASDAQ market the stock has a trailing week relative strength of 48.71 indicating it is trailing 51.29% of the market. In the NASDAQ market of 2,388 stocks traded today, the stock has a 6-month relative strength of 99 which means it is beating 99% of the market. A price rise combined with a high relative strength is a bullish signal.

Volume and turnover period: there were 4,564,167 shares worth US$9.6 million traded. The volume was 2.96 times average trading of 1,543,584 shares. The turnover rate in the 12 months to date was 508.5% (or a turnover period of 2 months).

% Discount to high: the last price is at a discount of 8.5% to the 12-month high of US$2.23 four-days ago on 14 Feb, 2011.

Volume weighted price (VWP): the price is at a premium of 23.3% to the 3-month volume weighted average price of US$1.655. In the past year the premium has been greater than 23.3% just five times, suggesting a topish level and cautious buying at the current price.

Rises to Falls: In the last six months the number of rises outnumbered falls 18:9 or 2:1.

THIS WEEK'S PRICE PERFORMANCE RANK IN SECTORS

The stock is in 2 sectors.

The following index and sector rose setting the trend for its rise of 0.5% for the week (rank by percentage price change of stock for 1 week;12 months in sector/index in brackets):

Total NASDAQ Market (rank 1120;874 out of 2521) which was up 17.4 points or 0.9% to 1,993.0,

NASDAQ-100 index which was up 13.3 points or 0.6% to 2,392.5

The stock's rise went against the trend set by Computer Integrated Systems sector (rank 9;10 out of 21) which was down 6.9 points or 0.3% to 2,322.7

The Computer Integrated Systems company sector is the 48th largest by market capitalisation out of NASDAQ's 69 sectors. It is made up of 21 publicly listed companies with a combined market capitalisation of US$10 billion. In 2010 earnings for the sector grew 5.9% compared with those of 2009. The main players in the sector include MICROS Systems, Mentor Graphics, Radiant Systems and FARO Technologies.

SHAREHOLDER RETURNS

Trailing five weeks: the stock fell thirteen times (52% of the time), rose ten times (40% of the time), was unchanged once (4% of the time) and was untraded once (4% of the time). The volume was 4.4 times average trading of 7,717,920 shares. The value of US$1,000 invested five weeks ago is US$1,545 [vs US$1,031 for the NASDAQ-100 index] for a capital gain of US$545.

Trailing thirteen weeks: the stock fell thirty one times (48% of the time), rose twenty five times (38% of the time), was unchanged eight times (12% of the time) and was untraded once (2% of the time). The volume was 3.04 times average trading of 20,066,591 shares. The value of US$1,000 invested thirteen weeks ago is US$2,040 [vs US$1,122 for the NASDAQ-100 index] for a capital gain of US$1,040.

Trailing Two Years: the value of US$1,000 invested two years ago is US$1,020 [vs US$2,024 for the NASDAQ-100 index] for a capital gain of US$20.

FINANCIALS

Quarterly Report; year-on-year comparisons with previous corresponding period:

In the quarter to December 31, 2010 total revenue was up 59.6% to US$6 million; net loss of US$133,000.

Annual Report for the year ended June 30, 2010 (year-on-year comparisons with previous corresponding period)-

Favourable Changes: total revenue up 31.21% to $US15.8m; current ratio up 0.23% to 2.0; Net tangible assets per share up 3.65% to $US0.50685; Working capital to total assets up 4.4% to 22.1%; total revenue to total assets up 14.2% to 0.5.

Unfavourable Changes: loss of $US11.6m; EPS reduced 42.11% to -55.0 U.S. cents; losses in all of the last 3 years; total liabilities to total assets up 1.94% to 0.2; operating cash flow is negative; total number of shares outstanding up 46.56% to 22,370,068; Retained earnings to total assets down 7.25% to 637.5%.

Major Common Size Ratios: total current assets to total assets up from 43.03% to 44.81%; intangibles to total assets down from 48.15% to 38.44%; cash to total assets down from 25.97% to 25.48%; fixed assets to total assets up from 8.01% to 15.12%; current inventory to total assets up from 6.43% to 8.82%; cost of goods sold to sales up from 38.94% to 43.51%; amortisation to sales down from 8.66% to 6.56%; depreciation to sales down from 5.26% to 4.97%; interest revenue to sales down from 2.35% to 0.54%.

FUNDAMENTALS

P/S: The price/sales ratio is 2.0.

Price to NTA: The price to net tangible asset backing per share is 2.8.

ISSUED CAPITAL

Based on 15,263,788 issued shares the market capitalisation is US$31.1 million.

ACTIVITIES

USA Technologies, Inc. is a supplier of cashless payment, remote management, reporting and energy management solutions serving the unattended point of sale market. The Company's networked devices and associated services enable the owners and operators of everyday, distributed assets, such as vending machines, kiosks, personal computers, photocopiers, and laundry equipment, the ability to offer their customers cashless payment options, as well as remotely monitor, control and report on the results of these distributed assets. As part of its Intelligent Vending solution, the Company also manufactures and sells energy management products, which reduce the electrical power consumption of vending related equipment, such as refrigerated vending machines and glass front coolers. As of June 30, 2008, the Company had approximately 38,000 devices connected to its USALive network. During the fiscal year ended June 30, 2008, the Company processed approximately 11.3 million transactions.

TOP MANAGEMENT

The chairman and chief executive officer is George R. Jensen Jr. and the chief financial officer is David M. Demedio.

REPORTED BUYING

Reported Buying:

May 18: USA Technologies insider buys

USA Technologies (USAT.O) insider Barnhart Steven bought 2,300 shares worth approximately US$1,495 on May 13, 2010. The last price was USD0.69.

May 11: USA Technologies insider buys

USA Technologies (USAT.O) insider Barnhart Steven bought 6,250 shares worth approximately US$4,321 on May 07, 2010. The last price was USD0.7.

May 11: USA Technologies insider buys

USA Technologies (USAT.O) insider Barnhart Steven bought 2,750 shares worth approximately US$1,901 on May 07, 2010. The last price was USD0.72.

May 11: USA Technologies insider buys

USA Technologies (USAT.O) insider Barnhart Steven bought 2,700 shares worth approximately US$1,867 on May 07, 2010. The last price was USD0.69.

May 11: USA Technologies insider buys

USA Technologies (USAT.O) insider Barnhart Steven bought 4,000 shares worth approximately US$2,765 on May 07, 2010. The last price was USD0.71.

Source: www. BuySellSignals. com

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