Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Shares Gap Down - Here's Why

Key Points

• Joint Stock Company Kaspi.kz (NASDAQ:KSPI) experienced a significant gap down, opening at $84.25 after closing at $87.24, with recent trading at $84.15.
• Analysts have adjusted their ratings for Kaspi.kz, with Susquehanna lowering the target price from $140 to $130 and JPMorgan maintaining a "neutral" rating with a target price of $96.
• Institutional investors are actively involved, with notable increases in holdings from firms such as Russell Investments Group and SG Americas Securities, collectively representing 32.20% of the stock ownership.

Joint Stock Company Kaspi.kz Sponsored ADR (NASDAQ:KSPI - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $87.24, but opened at $84.25. Joint Stock Company Kaspi.kz shares last traded at $84.15, with a volume of 196,768 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $96.00 price target on shares of Joint Stock Company Kaspi.kz in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

Joint Stock Company Kaspi.kz Stock Up 0.2%

The firm has a 50 day moving average of $88.44 and a 200-day moving average of $88.21. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $16.88 billion, a P/E ratio of 7.76 and a beta of 1.08.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Joint Stock Company Kaspi.kz in the first quarter worth $110,000. Renaissance Capital LLC lifted its holdings in shares of Joint Stock Company Kaspi.kz by 6.7% during the 2nd quarter. Renaissance Capital LLC now owns 65,635 shares of the company's stock worth $5,572,000 after acquiring an additional 4,111 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Joint Stock Company Kaspi.kz by 24.8% during the 1st quarter. Driehaus Capital Management LLC now owns 40,075 shares of the company's stock worth $3,721,000 after acquiring an additional 7,951 shares during the period. Flossbach Von Storch SE boosted its position in shares of Joint Stock Company Kaspi.kz by 66.7% during the 1st quarter. Flossbach Von Storch SE now owns 25,000 shares of the company's stock valued at $2,321,000 after acquiring an additional 10,000 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Joint Stock Company Kaspi.kz by 70.1% in the second quarter. SG Americas Securities LLC now owns 28,637 shares of the company's stock valued at $2,431,000 after acquiring an additional 11,805 shares during the period. 32.20% of the stock is currently owned by institutional investors and hedge funds.

About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants.