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Net 1 UEPS Technologies Makes a Move: Up 1.4%

Published on Fri, 06/28/2013 - 13:58
By Peter Chu

One of today's stocks on the move is Net 1 UEPS Technologies (NASDAQ:UEPS), up 1.4% to $7.31. The Dow Jones Industrial Average is now trading 0.4% lower to 14,966 and the S&P is trading fractionally lower to 1,611.

Net 1 UEPS Technologies, Inc. holds a non-exclusive worldwide license to the Universal Electronic Payment System (UEPS). The Company commercializes the smart card based service through alliances with banks, card services, and retail organizations.

There is potential upside of 16.3% for shares of Net 1 UEPS Technologies based on a current price of $7.31 and an average consensus analyst price target of $8.50. The stock should discover initial support at its 50-day moving average (MA) of $7.26 and subsequent support at its 200-day MA of $7.00.

In the past 52 weeks, shares of Net 1 UEPS Technologies have traded between a low of $3.01 and a high of $12.62 and are now at $7.31, which is 143% above that low price. The 200-day and 50-day moving averages have moved 0.66% lower and 0.1% lower over the past week, respectively.

By Peter Chu
pchu@fnno.com