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

Lesaka Technologies, Inc. (NASDAQ:LSAK) dropped 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 were traded during mid-day trading, a decline of 14% from the average session volume of 164,164 shares. The stock had previously closed at $4.97.

Analyst Upgrades and Downgrades

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

Lesaka Technologies Stock Performance

The company has a market capitalization of $424.41 million, a price-to-earnings ratio of -14.14 and a beta of 0.32. The firm has a fifty day simple moving average of $4.84 and a 200 day simple moving average of $4.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.54 and a quick ratio of 1.44.

Lesaka Technologies (NASDAQ:LSAK) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $96.37 million for the quarter. Lesaka Technologies had a negative net margin of 4.11% and a negative return on equity of 15.95%. On average, analysts anticipate that Lesaka Technologies, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Finance Corp International sold 66,437 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $4.90, for a total transaction of $325,541.30. Following the completion of the sale, the insider directly owned 5,244,859 shares in the company, valued at approximately $25,699,809.10. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 414,359 shares of company stock valued at $2,039,299. 3.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lesaka Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP acquired a new position in Lesaka Technologies during the third quarter worth $74,000. Citadel Advisors LLC raised its holdings in shares of Lesaka Technologies by 26.4% in the 3rd quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock valued at $79,000 after buying an additional 3,959 shares during the period. 9823 Capital L.P. purchased a new stake in shares of Lesaka Technologies in the 4th quarter valued at $94,000. Barclays PLC lifted its stake in Lesaka Technologies by 13,359.8% during the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock worth $677,000 after acquiring an additional 140,812 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Lesaka Technologies by 16.6% during the 1st 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. 24.19% of the stock is owned by hedge funds and other institutional investors.

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.