Net 1 UEPS Technologies Inc (NASDAQ:UEPS) Short Interest Down 13.2% in August

Net 1 UEPS Technologies Inc (NASDAQ:UEPS) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 374,800 shares, a decrease of 13.2% from the July 31st total of 431,800 shares. Based on an average trading volume of 200,200 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.8% of the company’s shares are short sold.

Shares of UEPS stock traded down $0.02 on Friday, reaching $3.51. The company had a trading volume of 51,246 shares, compared to its average volume of 157,512. The company has a 50-day moving average of $3.46 and a 200-day moving average of $3.67. Net 1 UEPS Technologies has a 12 month low of $2.78 and a 12 month high of $8.07.

A number of brokerages have recently commented on UEPS. B. Riley set a $7.00 price target on Net 1 UEPS Technologies and gave the company a “buy” rating in a research note on Tuesday. Zacks Investment Research cut Net 1 UEPS Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. ValuEngine raised Net 1 UEPS Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Finally, Maxim Group set a $7.00 price target on Net 1 UEPS Technologies and gave the company a “buy” rating in a research note on Friday, May 24th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Net 1 UEPS Technologies presently has an average rating of “Hold” and a consensus target price of $7.00.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP acquired a new position in shares of Net 1 UEPS Technologies in the 1st quarter valued at approximately $9,198,000. Thompson Siegel & Walmsley LLC grew its position in shares of Net 1 UEPS Technologies by 50.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 2,098,901 shares of the business services provider’s stock valued at $7,535,000 after purchasing an additional 705,208 shares during the period. B. Riley Financial Inc. grew its position in shares of Net 1 UEPS Technologies by 22.4% in the 2nd quarter. B. Riley Financial Inc. now owns 528,600 shares of the business services provider’s stock valued at $2,114,000 after purchasing an additional 96,707 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Net 1 UEPS Technologies by 42.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 445,008 shares of the business services provider’s stock valued at $1,780,000 after purchasing an additional 131,559 shares during the period. Finally, Boston Partners acquired a new position in shares of Net 1 UEPS Technologies in the 1st quarter valued at approximately $1,543,000. Institutional investors and hedge funds own 53.24% of the company’s stock.

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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