Lesaka Technologies, Inc. (NASDAQ:LSAK) Short Interest Update

Lesaka Technologies, Inc. (NASDAQ:LSAK) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 266,261 shares, a growth of 54.3% from the February 26th total of 172,560 shares. Based on an average daily volume of 68,725 shares, the days-to-cover ratio is presently 3.9 days. Currently, 0.3% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages have weighed in on LSAK. Weiss Ratings reissued a “sell (d-)” rating on shares of Lesaka Technologies in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Lesaka Technologies to a “hold” rating in a research note on Saturday, February 14th. Finally, Zacks Research raised shares of Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lesaka Technologies currently has an average rating of “Reduce”.

Lesaka Technologies Price Performance

Shares of NASDAQ LSAK opened at $4.90 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.43 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $411.21 million, a price-to-earnings ratio of -7.78 and a beta of 0.46. Lesaka Technologies has a twelve month low of $3.39 and a twelve month high of $5.54. The business has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $4.40.

Lesaka Technologies (NASDAQ:LSAK) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $166.00 million. Lesaka Technologies had a negative return on equity of 28.23% and a negative net margin of 7.87%. As a group, equities research analysts expect that Lesaka Technologies will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Finance Corp International sold 87,041 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $5.31, for a total transaction of $462,187.71. Following the completion of the sale, the insider owned 5,829,926 shares of the company’s stock, valued at approximately $30,956,907.06. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ali Mazanderani purchased 1,800,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $5.00 per share, with a total value of $9,000,000.00. Following the purchase, the chairman owned 2,325,115 shares of the company’s stock, valued at approximately $11,625,575. The trade was a 342.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 323,011 shares of company stock worth $1,605,227. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lesaka Technologies

A number of institutional investors have recently modified their holdings of the business. 9823 Capital L.P. acquired a new stake in shares of Lesaka Technologies during the 4th quarter worth approximately $94,000. Barclays PLC boosted its position in Lesaka Technologies by 13,359.8% during the 4th quarter. Barclays PLC now owns 141,866 shares of the company’s stock valued at $677,000 after purchasing an additional 140,812 shares during the period. Potomac Capital Management Inc. bought a new position in Lesaka Technologies during the 4th quarter worth $4,766,000. Rathbones Group PLC grew its stake in 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 buying an additional 225,000 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Lesaka Technologies in the third quarter worth $74,000. Institutional investors own 24.19% of the company’s stock.

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.