Nayax (NASDAQ:NYAX) Shares Gap Down – Here’s Why

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $68.27, but opened at $64.57. Nayax shares last traded at $68.4990, with a volume of 483 shares trading hands.

Analyst Ratings Changes

NYAX has been the topic of several analyst reports. Zacks Research raised shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price objective on Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Barclays began coverage on Nayax in a research report on Wednesday, July 8th. They issued an “equal weight” rating and a $75.00 target price on the stock. UBS Group upped their target price on Nayax from $68.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Oppenheimer raised Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target for the company in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $78.16.

Nayax Stock Performance

The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 86.96 and a beta of 0.47. The stock’s fifty day moving average is $66.97 and its two-hundred day moving average is $62.84. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) 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 return on equity of 14.09% and a net margin of 6.95%. On average, analysts predict that Nayax Ltd. will post 0.73 earnings per share for the current year.

Insider Activity at Nayax

In other news, President Keren Sharir sold 4,500 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $71.80, for a total value of $323,100.00. Following the sale, the president directly owned 26,876 shares of the company’s stock, valued at approximately $1,929,696.80. This represents a 14.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sagit Manor sold 1,252 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the sale, the chief financial officer owned 45,238 shares of the company’s stock, valued at $3,019,184.12. This trade represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 47,629 shares of company stock worth $3,482,786 over the last ninety days.

Institutional Trading of Nayax

A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after acquiring an additional 8,727 shares during the period. Altshuler Shaham Ltd lifted its holdings in Nayax by 5.0% during the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after purchasing an additional 1,731 shares during the last quarter. Y.D. More Investments Ltd lifted 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 purchasing an additional 25,694 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Nayax by 36.4% during the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after purchasing an additional 72,357 shares during the period. Finally, Amundi bought a new stake in shares of Nayax during the 4th quarter worth about $302,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company Profile

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.