StockNews.com Downgrades Net 1 UEPS Technologies (NASDAQ:UEPS) to Sell

Net 1 UEPS Technologies (NASDAQ:UEPSGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, Zacks Investment Research raised shares of Net 1 UEPS Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 14th.

Shares of NASDAQ UEPS traded down $0.06 during midday trading on Thursday, reaching $4.25. The company’s stock had a trading volume of 45,805 shares, compared to its average volume of 112,514. The business’s 50 day moving average price is $5.11 and its two-hundred day moving average price is $5.13. The company has a market cap of $246.08 million, a P/E ratio of -8.02 and a beta of 1.23. Net 1 UEPS Technologies has a fifty-two week low of $3.84 and a fifty-two week high of $6.97.

Net 1 UEPS Technologies (NASDAQ:UEPSGet Rating) last released its earnings results on Tuesday, May 10th. The business services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Net 1 UEPS Technologies had a negative net margin of 23.24% and a negative return on equity of 14.25%. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Sell-side analysts anticipate that Net 1 UEPS Technologies will post -0.56 earnings per share for the current year.

In other news, Director Monde Nkosi acquired 43,277 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were bought at an average cost of $4.97 per share, for a total transaction of $215,086.69. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 69,539 shares of company stock valued at $346,557 in the last 90 days. Company insiders own 1.29% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Net 1 UEPS Technologies in the 1st quarter valued at about $1,960,000. Hosking Partners LLP increased its stake in shares of Net 1 UEPS Technologies by 64.8% during the 1st quarter. Hosking Partners LLP now owns 621,157 shares of the business services provider’s stock worth $3,646,000 after purchasing an additional 244,228 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Net 1 UEPS Technologies by 37.3% in the 1st quarter. Russell Investments Group Ltd. now owns 22,282 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 6,051 shares during the period. Meixler Investment Management Ltd. purchased a new position in shares of Net 1 UEPS Technologies in the fourth quarter valued at about $212,000. Finally, Goldman Sachs Group Inc. boosted its stake in Net 1 UEPS Technologies by 13.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,997,830 shares of the business services provider’s stock worth $26,588,000 after acquiring an additional 598,770 shares in the last quarter. 47.06% of the stock is currently owned by institutional investors.

About Net 1 UEPS Technologies (Get Rating)

Net 1 UEPS Technologies, Inc, a financial technology company, provides fintech products and services to unbanked and underbanked individuals and small businesses primarily in South Africa and internationally. The company develops payment technologies to offers financial and value -added services to its customers.

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