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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped down before the market opened on Friday . The stock had previously closed at $47.40, but opened at $44.88. Nayax shares last traded at $48.0450, with a volume of 2,331 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on NYAX. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Wednesday, May 27th. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Jefferies Financial Group restated a “buy” rating and issued a $79.80 price objective on shares of Nayax in a research note on Thursday, May 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.76.

Nayax Trading Up 0.9%

The firm’s 50 day moving average is $59.49 and its 200 day moving average is $61.90. The company has a market cap of $1.75 billion, a PE ratio of 228.45 and a beta of 0.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03.

Nayax (NASDAQ:NYAX) last posted its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The business had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. On average, equities analysts anticipate that Nayax Ltd. will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Nayax

In related news, CFO Sagit Manor sold 1,252 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total value of $83,558.48. Following the sale, the chief financial officer owned 45,238 shares in the company, valued at approximately $3,019,184.12. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eden Zafrani sold 500 shares of Nayax stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the sale, the insider directly owned 14,869 shares of the company’s stock, valued at $964,849.41. This represents a 3.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,213 shares of company stock worth $205,569.

Institutional Trading of Nayax

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of Nayax in the second quarter worth about $33,000. Bank of America Corp DE increased its stake 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 valued at $44,000 after buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC purchased a new stake in shares of Nayax in the 4th quarter worth about $69,000. Finally, Alliancebernstein L.P. purchased a new stake in Nayax in the third quarter worth about $128,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

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.