Lesaka Technologies (NASDAQ:LSAK) Releases Earnings Results, Beats Estimates By $0.04 EPS

Lesaka Technologies (NASDAQ:LSAK) announced its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $166.00 million.

Lesaka Technologies Stock Performance

Lesaka Technologies stock traded down $0.04 during midday trading on Wednesday, hitting $4.56. The stock had a trading volume of 100,715 shares, compared to its average volume of 86,442. Lesaka Technologies has a 52-week low of $3.39 and a 52-week high of $5.20. The company has a market capitalization of $383.43 million, a PE ratio of -4.26 and a beta of 0.47. The firm’s fifty day moving average is $4.45 and its two-hundred day moving average is $4.37. The company has a current ratio of 1.61, a quick ratio of 1.48 and a debt-to-equity ratio of 1.10.

Insider Buying and Selling

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

Institutional Trading of Lesaka Technologies

A hedge fund recently bought a new stake in Lesaka Technologies stock. Susquehanna International Group LLP purchased a new position in Lesaka Technologies, Inc. (NASDAQ:LSAK) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,721 shares of the company’s stock, valued at approximately $74,000. Institutional investors own 24.19% of the company’s stock.

Wall Street Analyst Weigh In

LSAK has been the subject of several research reports. Zacks Research raised shares of Lesaka Technologies from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lesaka Technologies in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average 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.