Lesaka Technologies, Inc. (NASDAQ:LSAK) Sees Significant Decrease in Short Interest

Lesaka Technologies, Inc. (NASDAQ:LSAKGet Free Report) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 79,200 shares, a drop of 8.7% from the December 31st total of 86,700 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 20,100 shares, the short-interest ratio is presently 3.9 days.

Insider Buying and Selling

In other news, Director Ali Mazanderani purchased 322,476 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were bought at an average price of $3.30 per share, for a total transaction of $1,064,170.80. Following the completion of the purchase, the director now owns 322,476 shares of the company’s stock, valued at $1,064,170.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.03% of the company’s stock.

Institutional Investors Weigh In On Lesaka Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Lesaka Technologies by 3.7% during the second quarter. Renaissance Technologies LLC now owns 142,900 shares of the company’s stock worth $544,000 after purchasing an additional 5,100 shares in the last quarter. State Street Corp raised its holdings in Lesaka Technologies by 6.3% during the first quarter. State Street Corp now owns 92,218 shares of the company’s stock worth $443,000 after purchasing an additional 5,438 shares in the last quarter. Potomac Capital Management Inc. raised its holdings in Lesaka Technologies by 0.3% during the first quarter. Potomac Capital Management Inc. now owns 1,770,348 shares of the company’s stock worth $8,498,000 after purchasing an additional 5,918 shares in the last quarter. Northern Trust Corp raised its holdings in Lesaka Technologies by 53.2% during the second quarter. Northern Trust Corp now owns 17,643 shares of the company’s stock worth $67,000 after purchasing an additional 6,126 shares in the last quarter. Finally, Barclays PLC bought a new stake in Lesaka Technologies during the first quarter worth approximately $47,000. Institutional investors own 24.14% of the company’s stock.

Lesaka Technologies Stock Performance

LSAK opened at $3.38 on Thursday. The business’s 50 day moving average is $3.46 and its 200-day moving average is $3.79. The stock has a market cap of $210.86 million, a PE ratio of -7.04 and a beta of 0.86. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. Lesaka Technologies has a twelve month low of $3.00 and a twelve month high of $4.89.

Lesaka Technologies (NASDAQ:LSAKGet Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $136.09 million for the quarter, compared to analysts’ expectations of $134.66 million. Lesaka Technologies had a negative return on equity of 15.60% and a negative net margin of 5.57%. On average, analysts predict that Lesaka Technologies will post -0.23 earnings per share for the current year.

About Lesaka Technologies

(Get Free Report)

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.

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