Lesaka Technologies (NASDAQ:LSAK) Stock Price Down 2.7% – Here’s Why

Lesaka Technologies, Inc. (NASDAQ:LSAK)’s stock price traded down 2.7% during mid-day trading on Monday . The stock traded as low as $5.14 and last traded at $5.14. 1,916 shares were traded during trading, a decline of 84% from the average session volume of 11,939 shares. The stock had previously closed at $5.28.

Lesaka Technologies Price Performance

The company has a fifty day simple moving average of $5.28 and a 200 day simple moving average of $4.98. The stock has a market capitalization of $401.02 million, a price-to-earnings ratio of -20.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.53 and a current ratio of 1.73.

Institutional Trading of Lesaka Technologies

An institutional investor recently raised its position in Lesaka Technologies stock. Renaissance Technologies LLC grew its position in Lesaka Technologies, Inc. (NASDAQ:LSAK) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,100 shares of the company’s stock after purchasing an additional 14,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.29% of Lesaka Technologies worth $852,000 as of its most recent filing with the SEC. 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.