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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Monday. The stock had previously closed at $48.47, but opened at $51.15. Nayax shares last traded at $49.7560, with a volume of 4,135 shares traded.

Wall Street Analyst Weigh In

NYAX has been the topic of several recent analyst reports. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Jefferies Financial Group initiated coverage on shares of Nayax in a report on Wednesday, October 7th. They set a “buy” rating and a $68.30 price target for the company. Barclays reduced their price target on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. UBS Group reiterated a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.46.

Nayax Price Performance

The stock’s 50-day simple moving average is $47.63 and its 200 day simple moving average is $58.56.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The company had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $116.75 million. Equities research analysts forecast that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nayax news, insider Gal Omer sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $45.17, for a total value of $67,755.00. Following the completion of the transaction, the insider owned 18,539 shares in the company, valued at $837,406.63. The trade was a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Ben-Avi purchased 700 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was acquired at an average price of $43.07 per share, with a total value of $30,149.00. Following the purchase, the insider owned 6,592,402 shares of the company’s stock, valued at approximately $283,934,754.14. This represents a 0.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 198,962 shares of company stock worth $8,972,432 and have sold 3,161 shares worth $152,241.

Institutional Trading of Nayax

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in shares of Nayax in the 2nd quarter worth about $650,000. Public Employees Retirement System of Ohio purchased a new position in Nayax during the 2nd quarter valued at about $239,000. Bank of America Corp DE increased its holdings in Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after acquiring an additional 8,727 shares in the last quarter. Altshuler Shaham Ltd raised its position in Nayax by 5.0% during the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after acquiring an additional 1,731 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in shares of Nayax by 3.1% in the first 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 in the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

About Nayax

Nayax Ltd. (NASDAQ: NYAX) is a global commerce-enablement and payments technology company headquartered in Israel. It provides cashless payment solutions, transaction processing, and business-management tools for operators of unattended and automated retail environments.

The company’s products and services include payment terminals, cloud-based management software, telemetry and monitoring tools, customer engagement solutions, and loyalty capabilities. Nayax’s technology is used across a range of sectors, including vending, electric-vehicle charging, self-service laundries, fuel and convenience retail, parking, hospitality, and other automated or self-service businesses.

Founded in 2005, Nayax serves merchants and consumers in markets around the world through an international network of operations and partners.