Lesaka Technologies (NASDAQ:LSAK) Shares Down 3.3% - Here's What Happened

Lesaka Technologies, Inc. (NASDAQ:LSAK - Get Free Report) fell 3.3% during mid-day trading on Tuesday . The company traded as low as $4.25 and last traded at $4.35. 84,843 shares changed hands during trading, an increase of 216% from the average session volume of 26,836 shares. The stock had previously closed at $4.50.

Lesaka Technologies Trading Down 3.3%

The company has a market capitalization of $353.44 million, a price-to-earnings ratio of -5.30 and a beta of 0.67. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.87. The company's 50 day simple moving average is $4.31 and its two-hundred day simple moving average is $4.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rathbones Group PLC boosted its position in Lesaka Technologies by 41.3% during the first quarter. Rathbones Group PLC now owns 1,797,332 shares of the company's stock worth $8,573,000 after acquiring an additional 525,000 shares during the last quarter. Renaissance Technologies LLC boosted its position in Lesaka Technologies by 9.7% during the fourth quarter. Renaissance Technologies LLC now owns 197,700 shares of the company's stock worth $1,077,000 after acquiring an additional 17,481 shares during the last quarter. Finally, Barclays PLC boosted its position in Lesaka Technologies by 444.4% during the fourth quarter. Barclays PLC now owns 5,738 shares of the company's stock worth $32,000 after acquiring an additional 4,684 shares during the last quarter. Hedge funds and other institutional investors own 24.19% of the company's stock.

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.

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