Usio (NASDAQ:USIO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Usio (NASDAQ:USIOGet Rating) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Usio Inc. provides integrated payment solutions to merchants, billers, banks, service bureaus and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms. Usio Inc., formerly known as Payment Data Systems Inc., is headquartered in San Antonio, Texas. “

Separately, Maxim Group reaffirmed a buy rating and set a $8.00 price objective on shares of Usio in a research report on Friday, May 13th.

USIO stock opened at $2.36 on Thursday. Usio has a 1 year low of $1.80 and a 1 year high of $8.62. The business’s 50-day moving average is $3.04 and its two-hundred day moving average is $4.05. The firm has a market capitalization of $60.27 million, a P/E ratio of -39.33 and a beta of 1.72.

A number of institutional investors and hedge funds have recently made changes to their positions in USIO. Toroso Investments LLC purchased a new position in Usio in the first quarter worth $50,000. State Street Corp raised its holdings in shares of Usio by 10.4% in the first quarter. State Street Corp now owns 58,389 shares of the company’s stock worth $209,000 after acquiring an additional 5,489 shares during the last quarter. Renaissance Technologies LLC raised its stake in Usio by 4.8% in the 1st quarter. Renaissance Technologies LLC now owns 525,591 shares of the company’s stock valued at $1,882,000 after purchasing an additional 24,250 shares during the last quarter. Cruiser Capital Advisors LLC lifted its stake in shares of Usio by 64.8% during the first quarter. Cruiser Capital Advisors LLC now owns 126,401 shares of the company’s stock valued at $453,000 after buying an additional 49,701 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Usio by 13.7% during the 1st quarter. Vanguard Group Inc. now owns 1,000,801 shares of the company’s stock worth $3,583,000 after purchasing an additional 120,821 shares during the period. 19.69% of the stock is currently owned by institutional investors.

About Usio (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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