Shares of Net 1 UEPS Technologies (NASDAQ:UEPS) Sees Large Outflow of Money

Net 1 UEPS Technologies (NASDAQ:UEPS) : Money flow in the Net 1 UEPS Technologies (NASDAQ:UEPS) stock was negative (2.36 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $0.48 million, compared to $2.84 million on downticks. The total uptick to downtick ratio was 0.17, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($2.25 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $2.25 million, indicating persistent selling. Net 1 UEPS Technologies (NASDAQ:UEPS) traded $0.41 higher at $9.45 gaining 4.54% over the previous days close.


In an insider trading activity, The Securities and Exchange Commission has divulged that Oh Phil-Hyun, officer (President of KSNET) of Net 1 Ueps Technologies Inc, had unloaded 1,604 shares at an average price of $17.66 in a transaction dated on September 15, 2015. The total value of the transaction was worth $28,327. Currently the company Insiders own 5.58% of Net 1 UEPS Technologies shares according to the proxy statements. Institutional Investors own 68.05% of Net 1 UEPS Technologies shares.

The company shares have dropped -51.61% from its 1 Year high price. On Aug 25, 2015, the shares registered one year high at $21.48 and the one year low was seen on Feb 26, 2016. The 50-Day Moving Average price is $10.47 and the 200 Day Moving Average price is recorded at $10.68. Net 1 UEPS Technologies (NASDAQ:UEPS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.02 and $8.99 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.73, notching a gain of 7.63% for the day. The total traded volume was 837,068 . The stock had closed at $9.04 on the previous day.

Net 1 UEPS Technologies, Inc. is South Africa-based a provider of payment solutions and transaction processing services across a range of industries and in various geographies. The Company operates in four segments: Smart card accounts, International transaction-based activities, financial services and Hardware, software and related technology sales. The Companys UEPS technology includes functionality that allows Transparent and automatic recovery of transactions, Transaction cancellation; Refunds; Multiple audit trails; Offline loading and spending; Biometric identification; Continuous debit; Multiple wallets; Morphing of other common payment systems, such as the EuroPay, MasterCard and Visa global standard (EMV); Automatic credit; Automatic debit; Interest calculations; among others.

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