Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 221,500 shares, an increase of 24.0% from the December 31st total of 178,700 shares. Currently, 0.6% of the company's stock are short sold. Based on an average daily trading volume, of 69,600 shares, the days-to-cover ratio is presently 3.2 days.
Insider Activity at Lesaka Technologies
In other news, Director Value Capital Partners (Pty) L purchased 80,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was acquired at an average price of $4.08 per share, with a total value of $326,400.00. Following the purchase, the director now owns 14,750,700 shares in the company, valued at approximately $60,182,856. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 1,245,176 shares of company stock valued at $4,907,193. 2.70% of the stock is owned by corporate insiders.
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Hedge Funds Weigh In On Lesaka Technologies
A hedge fund recently bought a new stake in Lesaka Technologies stock. Meixler Investment Management Ltd. bought a new stake in Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,434 shares of the company's stock, valued at approximately $125,000. Meixler Investment Management Ltd. owned about 0.06% of Lesaka Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 56.25% of the company's stock.
Lesaka Technologies Stock Performance
LSAK stock traded down $0.12 during midday trading on Monday, hitting $4.25. 9,240 shares of the company traded hands, compared to its average volume of 15,634. Lesaka Technologies has a twelve month low of $3.02 and a twelve month high of $6.07. The stock has a market capitalization of $251.94 million, a price-to-earnings ratio of -6.19 and a beta of 1.19. The company has a quick ratio of 1.20, a current ratio of 1.42 and a debt-to-equity ratio of 0.59. The business has a 50 day simple moving average of $4.09 and a 200-day simple moving average of $4.43.
Lesaka Technologies (NASDAQ:LSAK – Get Rating) last posted its earnings results on Tuesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.09). The firm had revenue of $124.79 million during the quarter, compared to analyst estimates of $121.53 million. Lesaka Technologies had a negative net margin of 13.29% and a negative return on equity of 14.46%. As a group, equities research analysts predict that Lesaka Technologies will post -0.46 earnings per share for the current year.
Lesaka Technologies Company Profile
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Lesaka Technologies, Inc engages in the provision of financial technology, products and services to unbanked and underbanked individuals and small businesses in South Africa and other emerging economies. It operates through the following segments: Processing, Financial Services, and Technology. The Processing segment includes fees earned by the company from processing activities performed for its customers from the distribution of prepaid airtime.
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