Lesaka Technologies, Inc. (NASDAQ:LSAK) Sees Large Drop in Short Interest

kopsource · Jan 2, 2023 12:11

Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 150,400 shares, a decrease of 16.4% from the November 30th total of 179,800 shares. Based on an average daily volume of 130,200 shares, the short-interest ratio is presently 1.2 days. Approximately 0.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered Lesaka Technologies from a "c" rating to a "d+" rating in a research note on Monday, September 19th.

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Insider Buying and Selling

In other news, major shareholder Value Capital Partners (Pty) L bought 1,000,000 shares of the business's stock in a transaction on Thursday, November 17th. The stock was acquired at an average price of $3.93 per share, with a total value of $3,930,000.00. Following the completion of the purchase, the insider now directly owns 14,670,700 shares in the company, valued at $57,655,851. 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 have purchased 1,245,176 shares of company stock worth $4,907,193. Insiders own 2.70% of the company's stock.

Institutional Trading of Lesaka Technologies

An institutional investor recently bought a new position in Lesaka Technologies stock. Meixler Investment Management Ltd. purchased a new position in Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,434 shares of the company's stock, valued at approximately $125,000. Meixler Investment Management Ltd. owned 0.06% of Lesaka Technologies as of its most recent SEC filing. 56.25% of the stock is currently owned by institutional investors.

Lesaka Technologies Price Performance

LSAK traded up $0.21 during midday trading on Monday, hitting $4.55. The stock had a trading volume of 10,393 shares, compared to its average volume of 103,154. Lesaka Technologies has a 1 year low of $3.02 and a 1 year high of $6.07. 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 fifty day moving average of $3.94 and a 200 day moving average of $4.54.

Lesaka Technologies (NASDAQ:LSAK – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.09). The company had revenue of $124.79 million for the quarter, compared to analysts' expectations of $121.53 million. Lesaka Technologies had a negative net margin of 13.29% and a negative return on equity of 14.46%. Equities research analysts forecast that Lesaka Technologies will post -0.46 EPS for the current year.

Lesaka Technologies Company Profile

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Lesaka Technologies, Inc, a financial technology company, engages in the provision of fintech products and services to unbanked and underbanked individuals and small businesses primarily in South Africa and internationally. The company operates through three segments: Consumer, Merchant, and Other. It provides financial services, such as bank accounts, loans, and insurance products.