Lesaka Technologies (NASDAQ:LSAK) Shares Up 1.7% – Here’s Why

Lesaka Technologies, Inc. (NASDAQ:LSAK)’s share price rose 1.7% on Tuesday . The stock traded as high as $5.57 and last traded at $5.49. Approximately 39,902 shares were traded during trading, an increase of 57% from the average daily volume of 25,351 shares. The stock had previously closed at $5.40.

Lesaka Technologies Stock Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.59 and a quick ratio of 1.44. The stock has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.74. The firm has a market capitalization of $347.19 million, a PE ratio of -20.33 and a beta of 0.93.

Lesaka Technologies (NASDAQ:LSAK) last announced its earnings results on Wednesday, September 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Lesaka Technologies had a negative net margin of 3.09% and a negative return on equity of 9.90%. The business had revenue of $146.05 million during the quarter, compared to analyst estimates of $149.30 million. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, research analysts expect that Lesaka Technologies, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Lesaka Technologies

A number of institutional investors have recently modified their holdings of LSAK. Russell Investments Group Ltd. raised 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 valued at $326,000 after acquiring an additional 3,137 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Lesaka Technologies by 8.8% during the second 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 period. Rathbones Group PLC raised its holdings in shares of Lesaka Technologies by 100.0% during the second quarter. Rathbones Group PLC now owns 1,272,332 shares of the company’s stock worth $5,955,000 after purchasing an additional 636,166 shares during the period. Finally, Hosking Partners LLP lifted its position in shares of Lesaka Technologies by 3.8% in the 1st quarter. Hosking Partners LLP now owns 1,641,812 shares of the company’s stock worth $6,157,000 after buying an additional 59,594 shares during the last quarter. Institutional investors and hedge funds own 24.19% of the company’s stock.

About Lesaka Technologies

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.