Lesaka Technologies (NASDAQ:LSAK) Shares Down 0.4% – Here’s Why

Shares of Lesaka Technologies, Inc. (NASDAQ:LSAK) were down 0.4% during mid-day trading on Thursday. The company traded as low as $4.35 and last traded at $4.45. 250,406 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 258,979 shares. The stock had previously closed at $4.47.

Analyst Ratings Changes

LSAK has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $7.56 price target on shares of Lesaka Technologies in a report on Monday, September 14th. Wall Street Zen raised shares of Lesaka Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 19th. Finally, Weiss Ratings raised shares of Lesaka Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Lesaka Technologies has an average rating of “Moderate Buy” and a consensus price target of $7.56.

Lesaka Technologies Price Performance

The firm has a market capitalization of $381.77 million, a P/E ratio of 111.28 and a beta of 0.36. The business has a fifty day moving average of $4.49 and a 200-day moving average of $4.71. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.47 and a current ratio of 1.59.

Lesaka Technologies (NASDAQ:LSAK) last posted its earnings results on Saturday, August 15th. The company reported $0.15 EPS for the quarter. The firm had revenue of $98.50 million for the quarter. Lesaka Technologies had a return on equity of 1.65% and a net margin of 0.43%. On average, sell-side analysts forecast that Lesaka Technologies, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Lesaka Technologies stock. AXQ Capital LP acquired a new position in Lesaka Technologies, Inc. (NASDAQ:LSAK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,158 shares of the company’s stock, valued at approximately $60,000. 24.19% of the stock is currently owned by institutional investors and hedge funds.

About Lesaka Technologies

Lesaka Technologies, Inc is a financial technology company that provides digital payments and other financial services to consumers and businesses in Southern Africa. The company serves individuals who are underserved by traditional banking institutions, as well as merchants in the informal and formal economies.

Lesaka’s consumer offerings include transactional banking services, digital wallets, money transfers, insurance and credit-related products. Its merchant business provides payment acceptance solutions, point-of-sale services, cash management, banking tools and other value-added financial services designed to help businesses manage collections, payments and daily operations.

The company operates primarily in South Africa and has a presence in several other Southern African markets, including Botswana, Lesotho, Eswatini and Namibia.