Maxim Group Reaffirms Buy Rating for Usio (NASDAQ:USIO)

Usio (NASDAQ:USIOGet Rating)‘s stock had its “buy” rating reissued by equities research analysts at Maxim Group in a report released on Friday, TipRanks reports. They currently have a $8.00 price objective on the stock. Maxim Group’s price target would suggest a potential upside of 247.83% from the company’s previous close.

Separately, Zacks Investment Research upgraded Usio from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Friday, March 25th.

Shares of USIO stock traded up $0.31 on Friday, hitting $2.30. 48,336 shares of the company’s stock were exchanged, compared to its average volume of 51,105. Usio has a 12 month low of $1.80 and a 12 month high of $8.62. The stock has a market cap of $58.74 million, a P/E ratio of -38.33 and a beta of 1.72. The company has a 50 day moving average of $3.13 and a 200 day moving average of $4.20.

A number of institutional investors and hedge funds have recently modified their holdings of USIO. Morgan Stanley increased its holdings in Usio by 7.5% in the 2nd quarter. Morgan Stanley now owns 139,213 shares of the company’s stock worth $891,000 after purchasing an additional 9,733 shares in the last quarter. Citadel Advisors LLC increased its holdings in Usio by 19.8% in the 2nd quarter. Citadel Advisors LLC now owns 35,312 shares of the company’s stock worth $226,000 after purchasing an additional 5,838 shares in the last quarter. BlackRock Inc. increased its holdings in Usio by 27.9% in the 3rd quarter. BlackRock Inc. now owns 67,568 shares of the company’s stock worth $401,000 after purchasing an additional 14,720 shares in the last quarter. Geode Capital Management LLC increased its holdings in Usio by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 139,287 shares of the company’s stock worth $824,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Jacob Asset Management of New York LLC increased its holdings in Usio by 7.1% in the 3rd quarter. Jacob Asset Management of New York LLC now owns 300,000 shares of the company’s stock worth $1,776,000 after purchasing an additional 20,000 shares in the last quarter. 19.69% of the stock is owned by institutional investors and hedge funds.

Usio Company Profile (Get Rating)

Usio, Inc, together with its subsidiaries, provides integrated electronic payment processing services to merchants and businesses in the United States. The company offers various types of automated clearing house (ACH) processing; and credit, prepaid card, and debit card-based processing services. Its ACH transaction processing services include Represented Check, a consumer non-sufficient funds check that is presented for payment electronically rather than through the paper check collection system; and Accounts Receivable Check Conversion, a consumer paper check payment that is converted into an e-check.

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