Lesaka Technologies, Inc. (NASDAQ:LSAK) Short Interest Up 22.1% in September

Lesaka Technologies, Inc. (NASDAQ:LSAK) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 60,800 shares, an increase of 22.1% from the August 31st total of 49,800 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 23,700 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Lesaka Technologies

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Lesaka Technologies by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 87,046 shares of the company’s stock worth $326,000 after acquiring an additional 3,137 shares in the last quarter. Renaissance Technologies LLC raised its position in 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 purchasing an additional 14,700 shares during the last quarter. Rathbones Group PLC boosted its stake in Lesaka Technologies by 100.0% in 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 in the last quarter. Finally, Hosking Partners LLP grew its holdings in shares of Lesaka Technologies by 3.8% during the first quarter. Hosking Partners LLP now owns 1,641,812 shares of the company’s stock worth $6,157,000 after purchasing an additional 59,594 shares during the last quarter. 24.19% of the stock is owned by institutional investors.

Lesaka Technologies Price Performance

LSAK traded up $0.11 during midday trading on Monday, reaching $5.00. 13,564 shares of the company’s stock were exchanged, compared to its average volume of 24,912. The company has a quick ratio of 1.44, a current ratio of 1.59 and a debt-to-equity ratio of 0.79. The business has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $4.55. The firm has a market capitalization of $318 million, a price-to-earnings ratio of -12.87 and a beta of 0.94. Lesaka Technologies has a one year low of $3.00 and a one year high of $5.33.

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 company had revenue of $146.05 million for the quarter, compared to the consensus estimate of $149.30 million. Lesaka Technologies had a negative return on equity of 9.90% and a negative net margin of 3.09%. During the same quarter last year, the business earned ($0.19) EPS. As a group, research analysts predict that Lesaka Technologies will post -0.11 EPS for the current 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.