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Lesaka Technologies, Inc. (NASDAQ:LSAK) Sees Significant Decrease in Short Interest

Defense World · Jan 3, 2023 04:52

Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 150,400 shares, a drop 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 currently 1.2 days. Currently, 0.4% of the shares of the company are short sold.

Insider Activity at Lesaka Technologies

In other news, major shareholder Value Capital Partners (Pty) L bought 1,000,000 shares of the business's stock in a transaction that occurred on Thursday, November 17th. The stock was acquired at an average cost of $3.93 per share, for a total transaction of $3,930,000.00. Following the purchase, the insider now owns 14,670,700 shares of the company's stock, valued at approximately $57,655,851. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders bought 1,245,176 shares of company stock worth $4,907,193. Insiders own 2.70% of the company's stock.

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Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lesaka Technologies stock. Meixler Investment Management Ltd. acquired a new stake in Lesaka Technologies, Inc. (NASDAQ:LSAK – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,434 shares of the company's stock, valued at approximately $125,000. Meixler Investment Management Ltd. owned about 0.06% of Lesaka Technologies at the end of the most recent reporting period. Institutional investors and hedge funds own 56.25% of the company's stock.

Lesaka Technologies Trading Up 4.8 %

Shares of LSAK stock opened at $4.55 on Tuesday. Lesaka Technologies has a 12-month low of $3.02 and a 12-month high of $6.07. The firm has a 50 day moving average price of $3.95 and a two-hundred day moving average price of $4.54. The company has a market capitalization of $269.72 million, a PE ratio of -6.50 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.

Lesaka Technologies (NASDAQ:LSAK – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.09). Lesaka Technologies had a negative return on equity of 14.46% and a negative net margin of 13.29%. The business had revenue of $124.79 million for the quarter, compared to the consensus estimate of $121.53 million. As a group, analysts predict that Lesaka Technologies will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded shares of Lesaka Technologies from a "c" rating to a "d+" rating in a research report on Monday, September 19th.

About Lesaka Technologies

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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.