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

Lesaka Technologies, Inc. (NASDAQ:LSAK) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 45,100 shares, a decrease of 16.9% from the November 15th total of 54,300 shares. Based on an average daily trading volume, of 33,100 shares, the short-interest ratio is presently 1.4 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Lesaka Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSAK. Hosking Partners LLP grew its stake in shares of Lesaka Technologies by 58.8% in the second quarter. Hosking Partners LLP now owns 2,607,388 shares of the company’s stock worth $12,203,000 after purchasing an additional 965,576 shares during the last quarter. Rathbones Group PLC lifted its holdings in Lesaka Technologies by 100.0% during the 2nd quarter. Rathbones Group PLC now owns 1,272,332 shares of the company’s stock worth $5,955,000 after buying an additional 636,166 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Lesaka Technologies by 8.8% in the 2nd quarter. Renaissance Technologies LLC now owns 182,100 shares of the company’s stock valued at $852,000 after buying an additional 14,700 shares during the last quarter. 24.19% of the stock is currently owned by institutional investors and hedge funds.

Lesaka Technologies Stock Up 0.2 %

Shares of LSAK opened at $5.12 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.53 and a current ratio of 1.73. Lesaka Technologies has a 52 week low of $3.00 and a 52 week high of $5.60. The stock has a market capitalization of $399.46 million, a price-to-earnings ratio of -20.48 and a beta of 0.89. The stock has a fifty day moving average of $5.24 and a 200-day moving average of $4.91.

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

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.