Lesaka Technologies (NASDAQ:LSAK) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Lesaka Technologies (NASDAQ:LSAK) announced its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04, FiscalAI reports. Lesaka Technologies had a negative return on equity of 47.06% and a negative net margin of 14.02%.The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $166.00 million.

Lesaka Technologies Stock Performance

Shares of NASDAQ:LSAK traded down $0.04 during midday trading on Wednesday, hitting $4.56. The stock had a trading volume of 95,670 shares, compared to its average volume of 85,809. The company has a current ratio of 1.61, a quick ratio of 1.48 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average price of $4.45 and a two-hundred day moving average price of $4.37. The company has a market capitalization of $383.43 million, a PE ratio of -4.26 and a beta of 0.47. Lesaka Technologies has a 1 year low of $3.39 and a 1 year high of $5.20.

Insider Transactions at Lesaka Technologies

In related news, CFO Daniel Luke Smith acquired 11,503 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $4.40 per share, for a total transaction of $50,613.20. Following the transaction, the chief financial officer owned 23,500 shares in the company, valued at $103,400. This trade represents a 95.88% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ali Mazanderani bought 1,800,000 shares of the stock in a transaction on Wednesday, December 31st. The stock was purchased at an average cost of $5.00 per share, with a total value of $9,000,000.00. Following the completion of the purchase, the chairman directly owned 2,325,115 shares in the company, valued at $11,625,575. This trade represents a 342.78% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 1,830,500 shares of company stock valued at $9,130,204. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lesaka Technologies

A hedge fund recently raised its stake in Lesaka Technologies stock. Citadel Advisors LLC lifted its holdings in Lesaka Technologies, Inc. (NASDAQ:LSAK) by 26.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,977 shares of the company’s stock after acquiring an additional 3,959 shares during the period. Citadel Advisors LLC’s holdings in Lesaka Technologies were worth $79,000 as of its most recent SEC filing. 24.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LSAK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lesaka Technologies in a report on Thursday, January 22nd. Zacks Research upgraded shares of Lesaka Technologies from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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. 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.