Short Interest in Lesaka Technologies, Inc. (NASDAQ:LSAK) Increases By 11.1%

Lesaka Technologies, Inc. (NASDAQ:LSAK) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 58,000 shares, an increase of 11.1% from the July 31st total of 52,200 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 29,400 shares, the days-to-cover ratio is currently 2.0 days.

Lesaka Technologies Stock Performance

NASDAQ LSAK opened at $4.69 on Monday. Lesaka Technologies has a fifty-two week low of $3.00 and a fifty-two week high of $5.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.41 and a current ratio of 1.60. The firm has a market capitalization of $298.28 million, a P/E ratio of -12.34 and a beta of 0.98. The stock has a 50-day simple moving average of $4.76 and a two-hundred day simple moving average of $4.39.

Insider Buying and Selling

In other news, Director Christopher G.B. Meyer sold 71,479 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $4.63, for a total value of $330,947.77. Following the sale, the director now directly owns 675,868 shares of the company’s stock, valued at approximately $3,129,268.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 106,217 shares of company stock worth $496,322. 4.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LSAK. Hosking Partners LLP raised its position 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 acquiring an additional 965,576 shares during the period. Rathbones Group PLC raised its holdings in Lesaka Technologies by 100.0% in the 2nd 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. Renaissance Technologies LLC raised its holdings in Lesaka Technologies by 8.8% in 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 period. Finally, Russell Investments Group Ltd. boosted its position in Lesaka Technologies by 3.7% during the first 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 in the last quarter. 24.19% of the stock is currently owned by hedge funds and other 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.