Lesaka Technologies (NASDAQ:LSAK) Downgraded to Buy Rating by Wall Street Zen

Lesaka Technologies (NASDAQ:LSAK) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised shares of Lesaka Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Lesaka Technologies Price Performance

NASDAQ:LSAK opened at $4.90 on Friday. The firm has a market capitalization of $420.13 million, a price-to-earnings ratio of -14.00 and a beta of 0.32. Lesaka Technologies has a 1-year low of $3.62 and a 1-year high of $5.54. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $4.84 and its 200 day moving average price is $4.75.

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

Insider Buying and Selling at Lesaka Technologies

In related news, major shareholder Finance Corp International sold 106,948 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $4.90, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 414,359 shares of company stock valued at $2,039,299 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LSAK. Rathbones Group PLC raised its stake in shares of Lesaka Technologies by 6.6% during the 4th quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after purchasing an additional 225,000 shares in the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Lesaka Technologies in the 4th quarter valued at approximately $4,766,000. Barclays PLC grew its stake in shares of Lesaka Technologies by 13,359.8% in the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after buying an additional 140,812 shares in the last quarter. Citadel Advisors LLC increased its holdings in Lesaka Technologies by 26.4% in the third quarter. Citadel Advisors LLC now owns 18,977 shares of the company’s stock worth $79,000 after buying an additional 3,959 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Lesaka Technologies by 16.6% in the first quarter. Renaissance Technologies LLC now owns 185,900 shares of the company’s stock worth $946,000 after buying an additional 26,500 shares during the last quarter. 24.19% of the stock is owned by institutional investors and hedge funds.

Lesaka Technologies Company Profile

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.