Nayax (NASDAQ:NYAX) Shares Gap Down Following Weak Earnings

Nayax Ltd. (NASDAQ:NYAX) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $40.66, but opened at $38.84. Nayax shares last traded at $39.40, with a volume of 7,932 shares changing hands.

The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NYAX shares. Keefe, Bruyette & Woods increased their price target on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, March 6th. William Blair raised Nayax from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 1st. Finally, B. Riley reiterated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Nayax presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Hedge Funds Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd boosted its position in shares of Nayax by 42.7% during the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after buying an additional 354,350 shares during the last quarter. Swedbank AB raised its stake in shares of Nayax by 44.5% in the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after acquiring an additional 92,441 shares during the period. Ibex Investors LLC increased its stake in Nayax by 19.3% in the 1st quarter. Ibex Investors LLC now owns 416,015 shares of the company’s stock worth $14,039,000 after buying an additional 67,276 shares during the period. ARK Investment Management LLC bought a new position in Nayax during the 1st quarter worth about $1,906,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Nayax in the 4th quarter valued at about $1,581,000. Institutional investors own 34.87% of the company’s stock.

Nayax Stock Down 3.1%

The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.40 billion, a PE ratio of -127.08 and a beta of 0.13. The company’s 50-day moving average is $37.19 and its 200 day moving average is $34.05.

About Nayax

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.