Lesaka Technologies (NASDAQ:LSAK) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Lesaka Technologies (NASDAQ:LSAK) from a hold rating to a strong-buy rating in a research report released on Saturday morning.

LSAK has been the subject of a number of other research reports. Zacks Research upgraded shares of Lesaka Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings upgraded shares of Lesaka Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Lesaka Technologies Stock Down 2.2%

LSAK opened at $4.86 on Friday. Lesaka Technologies has a twelve month low of $3.62 and a twelve month high of $5.54. The company has a quick ratio of 1.43, a current ratio of 1.54 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $4.88 and a 200 day moving average price of $4.53. The company has a market cap of $416.68 million, a PE ratio of -13.89 and a beta of 0.32.

Lesaka Technologies (NASDAQ:LSAK) last released its quarterly earnings results on Friday, March 27th. The company reported $0.11 earnings per share for the quarter. Lesaka Technologies had a negative net margin of 4.11% and a negative return on equity of 15.95%. The firm had revenue of $96.37 million during the quarter. Sell-side analysts expect that Lesaka Technologies will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Lesaka Technologies

In related news, major shareholder Finance Corp International sold 66,437 shares of Lesaka Technologies stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $4.90, for a total value of $325,541.30. Following the completion of the sale, the insider owned 5,244,859 shares in the company, valued at approximately $25,699,809.10. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 798,768 shares of company stock valued at $3,951,513. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Lesaka Technologies

Several institutional investors have recently modified their holdings of LSAK. Potomac Capital Management Inc. acquired a new position in shares of Lesaka Technologies in the fourth quarter worth $4,766,000. Rathbones Group PLC grew its stake in shares of Lesaka Technologies by 6.6% in the fourth quarter. Rathbones Group PLC now owns 3,644,420 shares of the company’s stock worth $17,384,000 after acquiring an additional 225,000 shares in the last quarter. Barclays PLC grew its stake in shares of Lesaka Technologies by 13,359.8% in the fourth quarter. Barclays PLC now owns 141,866 shares of the company’s stock worth $677,000 after acquiring an additional 140,812 shares in the last quarter. 9823 Capital L.P. acquired a new position in shares of Lesaka Technologies in the fourth quarter worth $94,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Lesaka Technologies in the third quarter worth $74,000. 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. The company also engages in the sale of POS devices, SIM cards, and other consumables; and license of rights to use certain technology developed by the company, as well as offers related technology services.