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

Nayax Ltd. (NASDAQ:NYAX) gapped up prior to trading on Wednesday. The stock had previously closed at $43.80, but opened at $45.31. Nayax shares last traded at $45.0310, with a volume of 1,285 shares changing hands.

Wall Street Analyst Weigh In

NYAX has been the subject of several research reports. Jefferies Financial Group began coverage on shares of Nayax in a research report on Wednesday, October 7th. They set a “buy” rating and a $68.30 price objective for the company. Barclays dropped their target price on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. Keefe, Bruyette & Woods upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, August 14th. Weiss Ratings lowered shares of Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research raised shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.46.

Nayax Trading Up 0.8%

The firm has a market capitalization of $1.62 billion, a P/E ratio of 210.17 and a beta of 0.46. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. The firm has a 50 day moving average price of $49.52 and a two-hundred day moving average price of $60.10.

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

Insider Activity

In related news, insider David Ben-Avi purchased 700 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased 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 $283,934,754.14. This trade represents a 0.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Yair Nechmad purchased 44,148 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was bought at an average cost of $47.84 per share, for a total transaction of $2,112,040.32. Following the purchase, the chief executive officer directly owned 7,524,641 shares in the company, valued at $359,978,825.44. This represents a 0.59% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 198,962 shares of company stock valued at $8,972,432 and sold 3,161 shares valued at $152,241.

Institutional Trading of Nayax

A number of hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd increased its position 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 worth $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in shares of Nayax by 140.0% during the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after acquiring an additional 20,121 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Nayax by 36.4% during the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after acquiring an additional 72,357 shares during the period. Tidal Investments LLC purchased a new stake in shares of Nayax in the 2nd quarter valued at approximately $650,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Nayax in the 2nd quarter valued at approximately $239,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

Nayax Company Profile

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.