Nayax (NASDAQ:NYAX) Trading Down 8.4% – Here’s Why

Nayax Ltd. (NASDAQ:NYAX)’s stock price dropped 8.4% on Friday . The stock traded as low as $39.77 and last traded at $39.00. 22,114 shares were traded during trading, an increase of 166% from the average daily volume of 8,305 shares. The stock had previously closed at $42.56.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Nayax from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nayax has an average rating of “Hold” and an average price target of $46.67.

Nayax Stock Performance

The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.44 billion, a PE ratio of 71.02 and a beta of 0.20. The firm’s fifty day moving average is $46.70 and its 200 day moving average is $45.27.

Nayax (NASDAQ:NYAX) last announced its earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.06. Nayax had a net margin of 6.06% and a return on equity of 5.32%. The business had revenue of $95.59 million for the quarter, compared to analyst estimates of $99.16 million. Nayax has set its FY 2025 guidance at EPS. As a group, research analysts predict that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new position in Nayax in the 2nd quarter valued at $33,000. Vanguard Personalized Indexing Management LLC boosted its stake in Nayax by 10.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 7,464 shares of the company’s stock worth $355,000 after purchasing an additional 693 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,353 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after buying an additional 2,214 shares during the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.