Short Interest in Nayax Ltd. (NASDAQ:NYAX) Declines By 47.8%

Nayax Ltd. (NASDAQ:NYAX) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 33,623 shares, a drop of 47.8% from the May 14th total of 64,457 shares. Based on an average daily trading volume, of 20,090 shares, the short-interest ratio is presently 1.7 days. Currently, 0.1% of the company’s shares are sold short.

Insider Buying and Selling

In related news, insider Oren Tepper sold 1,052 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $73.31, for a total value of $77,122.12. Following the completion of the sale, the insider directly owned 19,392 shares in the company, valued at $1,421,627.52. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Ben-Avi sold 16,590 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.48, for a total transaction of $1,268,803.20. Following the sale, the insider directly owned 6,587,718 shares in the company, valued at $503,828,672.64. This trade represents a 0.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,901 shares of company stock valued at $3,496,580 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd raised its holdings in Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after acquiring an additional 25,694 shares during the period. Vanguard Group Inc. grew its position in shares of Nayax by 4,022.5% in the third quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock valued at $26,210,000 after purchasing an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after purchasing an additional 89,886 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after purchasing an additional 72,357 shares during the period. Finally, AltraVue Capital LLC purchased a new stake in Nayax during the 4th quarter worth about $11,623,000. 34.87% of the stock is owned by institutional investors.

Nayax Trading Down 0.5%

NASDAQ:NYAX opened at $67.53 on Tuesday. Nayax has a 12 month low of $39.17 and a 12 month high of $76.86. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $66.49 and its 200 day moving average is $58.14. The stock has a market capitalization of $2.47 billion, a PE ratio of 85.48 and a beta of 0.41.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. Sell-side analysts expect that Nayax will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

NYAX has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Nayax from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.80 price target on shares of Nayax in a research report on Thursday, May 14th. Wall Street Zen lowered Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Keefe, Bruyette & Woods boosted their price objective on Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Nayax in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nayax presently has a consensus rating of “Hold” and an average target price of $77.20.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.