Net 1 UEPS Technologies (NASDAQ:UEPS) Shares Up 10.9%

Shares of Net 1 UEPS Technologies Inc (NASDAQ:UEPS) traded up 10.9% during mid-day trading on Wednesday . The stock traded as high as $3.73 and last traded at $3.56, 686,600 shares traded hands during trading. An increase of 113% from the average session volume of 321,894 shares. The stock had previously closed at $3.21.

A number of analysts have recently commented on UEPS shares. Maxim Group set a $7.00 price target on Net 1 UEPS Technologies and gave the stock a “buy” rating in a research report on Friday, September 27th. B. Riley set a $7.00 price target on Net 1 UEPS Technologies and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Zacks Investment Research raised Net 1 UEPS Technologies from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Saturday, October 5th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Net 1 UEPS Technologies has a consensus rating of “Buy” and a consensus price target of $5.75.

The firm has a fifty day moving average price of $3.05 and a two-hundred day moving average price of $3.49. The stock has a market capitalization of $177.63 million, a P/E ratio of -0.74 and a beta of 0.68.

Net 1 UEPS Technologies (NASDAQ:UEPS) last announced its quarterly earnings results on Thursday, September 26th. The business services provider reported ($2.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($2.35). Net 1 UEPS Technologies had a negative return on equity of 50.20% and a negative net margin of 81.29%. The firm had revenue of $71.20 million during the quarter, compared to the consensus estimate of $67.64 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was down 52.3% on a year-over-year basis. As a group, analysts anticipate that Net 1 UEPS Technologies Inc will post -0.15 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC bought a new position in shares of Net 1 UEPS Technologies in the second quarter worth approximately $83,000. Clear Harbor Asset Management LLC bought a new stake in shares of Net 1 UEPS Technologies during the second quarter valued at approximately $94,000. Russell Investments Group Ltd. raised its holdings in Net 1 UEPS Technologies by 30.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,670 shares of the business services provider’s stock worth $119,000 after acquiring an additional 7,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Net 1 UEPS Technologies by 83.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 121,373 shares of the business services provider’s stock worth $485,000 after acquiring an additional 55,302 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Net 1 UEPS Technologies by 5.4% in the 3rd quarter. California Public Employees Retirement System now owns 145,220 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 7,400 shares in the last quarter. 52.43% of the stock is owned by institutional investors and hedge funds.

About Net 1 UEPS Technologies (NASDAQ:UEPS)

Net 1 UEPS Technologies, Inc provides transaction processing services, financial inclusion products and services, and secure payment technologies in South Africa, the Republic of Korea, and internationally. The company develops and markets transaction processing solutions, including smart card-based alternative payment systems for the unbanked and under-banked populations of developing economies and for mobile transaction channels.

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