Short Interest in Net 1 UEPS Technologies Inc (NASDAQ:UEPS) Expands By 13.7%

Net 1 UEPS Technologies Inc (NASDAQ:UEPS) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 808,700 shares, an increase of 13.7% from the May 15th total of 711,500 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 284,900 shares, the days-to-cover ratio is presently 2.8 days.

NASDAQ:UEPS traded down $0.01 on Friday, reaching $4.05. 145,548 shares of the stock traded hands, compared to its average volume of 225,016. The firm has a market capitalization of $230.16 million, a P/E ratio of 2.07 and a beta of 0.70. Net 1 UEPS Technologies has a 12 month low of $2.78 and a 12 month high of $9.66. The stock’s fifty day moving average is $3.79.

Net 1 UEPS Technologies (NASDAQ:UEPS) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.56). The firm had revenue of $86.48 million for the quarter, compared to the consensus estimate of $105.12 million. Net 1 UEPS Technologies had a negative net margin of 25.48% and a negative return on equity of 7.37%. The firm’s revenue for the quarter was down 46.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, sell-side analysts predict that Net 1 UEPS Technologies will post -2.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. B. Riley Financial Inc. purchased a new stake in shares of Net 1 UEPS Technologies during the 1st quarter valued at about $1,550,000. Acadian Asset Management LLC purchased a new stake in shares of Net 1 UEPS Technologies during the 4th quarter valued at about $1,004,000. ETF Managers Group LLC boosted its holdings in shares of Net 1 UEPS Technologies by 46.4% during the 1st quarter. ETF Managers Group LLC now owns 336,475 shares of the business services provider’s stock valued at $1,208,000 after acquiring an additional 106,592 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Net 1 UEPS Technologies by 20.3% during the 4th quarter. Two Sigma Advisers LP now owns 365,835 shares of the business services provider’s stock valued at $1,716,000 after acquiring an additional 61,700 shares during the last quarter. Finally, Hosking Partners LLP boosted its holdings in shares of Net 1 UEPS Technologies by 11.3% during the 4th quarter. Hosking Partners LLP now owns 578,824 shares of the business services provider’s stock valued at $2,715,000 after acquiring an additional 58,558 shares during the last quarter. 55.20% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on UEPS shares. Maxim Group set a $7.00 price objective on shares of Net 1 UEPS Technologies and gave the company a “buy” rating in a research note on Friday, May 24th. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Saturday, July 13th. Finally, ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. Net 1 UEPS Technologies presently has a consensus rating of “Hold” and an average target price of $8.50.

Net 1 UEPS Technologies Company Profile

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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