Lesaka Technologies (NASDAQ:LSAK) Trading Down 0.4% – Here’s Why

Lesaka Technologies, Inc. (NASDAQ:LSAK)’s share price fell 0.4% during mid-day trading on Wednesday . The stock traded as low as $4.90 and last traded at $4.95. Approximately 141,674 shares traded hands during trading, a decline of 14% from the average session volume of 164,164 shares. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Lesaka Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Lesaka Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Lesaka Technologies Stock Performance

The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $4.84 and a 200-day simple moving average of $4.75. The stock has a market capitalization of $420.11 million, a price-to-earnings ratio of -14.00 and a beta of 0.32.

Lesaka Technologies (NASDAQ:LSAK) last announced its quarterly earnings data on Friday, March 27th. The company reported $0.03 EPS for the quarter. The company had revenue of $96.37 million during the quarter. Lesaka Technologies had a negative net margin of 4.11% and a negative return on equity of 15.95%. As a group, equities research analysts expect that Lesaka Technologies, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Lesaka Technologies

In other Lesaka Technologies news, major shareholder Finance Corp International sold 106,948 shares of the firm’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $4.90, for a total value of $524,045.20. Following the completion of the sale, the insider directly owned 5,330,784 shares in the company, valued at approximately $26,120,841.60. This trade represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 414,359 shares of company stock worth $2,039,299 over the last 90 days. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lesaka Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rathbones Group PLC increased its position in Lesaka Technologies by 6.6% in the 4th quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock valued at $17,384,000 after buying an additional 225,000 shares in the last quarter. Potomac Capital Management Inc. bought a new position in Lesaka Technologies in the fourth quarter worth approximately $4,766,000. 9823 Capital L.P. acquired a new stake in Lesaka Technologies in the fourth quarter valued at approximately $94,000. Renaissance Technologies LLC grew its stake in Lesaka Technologies by 16.6% in the first quarter. Renaissance Technologies LLC now owns 185,900 shares of the company’s stock valued at $946,000 after acquiring an additional 26,500 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Lesaka Technologies in the third quarter valued at approximately $74,000. Institutional investors own 24.19% of the company’s stock.

About Lesaka Technologies

Lesaka Technologies, Inc operates as a Fintech company that utilizes its proprietary banking and payment technologies to deliver financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. It offers cash management solutions, growth capital, card acquiring, bill payment technologies, and value-added services to formal and informal retail merchants, as well as banking, lending, and insurance solutions to consumers across Southern Africa. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.