Lesaka Technologies (NASDAQ:LSAK) Trading 3.4% Higher – Here’s Why

Lesaka Technologies, Inc. (NASDAQ:LSAK)’s stock price rose 3.4% during mid-day trading on Wednesday . The company traded as high as $5.45 and last traded at $5.43. Approximately 27,043 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 26,726 shares. The stock had previously closed at $5.25.

Lesaka Technologies Trading Up 3.4 %

The company has a fifty day simple moving average of $5.15 and a two-hundred day simple moving average of $4.88. The company has a market capitalization of $423.64 million, a P/E ratio of -21.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.53.

Lesaka Technologies (NASDAQ:LSAK) last posted its earnings results on Wednesday, September 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $146.05 million during the quarter, compared to analyst estimates of $149.30 million. Lesaka Technologies had a negative return on equity of 9.15% and a negative net margin of 2.85%. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, analysts forecast that Lesaka Technologies, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Lesaka Technologies

Several large investors have recently modified their holdings of the company. Rathbones Group PLC boosted its holdings in Lesaka Technologies by 100.0% during the second quarter. Rathbones Group PLC now owns 1,272,332 shares of the company’s stock valued at $5,955,000 after acquiring an additional 636,166 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Lesaka Technologies by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 87,046 shares of the company’s stock worth $326,000 after purchasing an additional 3,137 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Lesaka Technologies by 8.8% during the 2nd quarter. Renaissance Technologies LLC now owns 182,100 shares of the company’s stock worth $852,000 after purchasing an additional 14,700 shares during the last quarter. Finally, Hosking Partners LLP boosted its stake in Lesaka Technologies by 58.8% during the 2nd quarter. Hosking Partners LLP now owns 2,607,388 shares of the company’s stock valued at $12,203,000 after purchasing an additional 965,576 shares during the period. 24.19% of the stock is owned by institutional investors.

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.