Nayax Ltd. (NASDAQ:NYAX) Shares Shorted: Short Interest Up 90.9% in September

Nayax Ltd. (NASDAQ:NYAX) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 116,456 shares, an increase of 90.9% from the September 15th total of 61,002 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 28,209 shares, the days-to-cover ratio is currently 4.1 days.

Nayax Price Performance

Shares of Nayax stock traded up $0.08 during midday trading on Thursday, hitting $44.79. 12,318 shares of the company were exchanged, compared to its average volume of 20,962. The firm has a 50 day simple moving average of $49.08 and a 200-day simple moving average of $60.03. 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 has a 52 week low of $39.17 and a 52 week high of $76.86. The firm has a market cap of $1.64 billion, a P/E ratio of 213.29 and a beta of 0.46.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $122.59 million during the quarter, compared to the consensus estimate of $116.75 million. Nayax had a net margin of 1.74% and a return on equity of 10.45%. Research analysts forecast that Nayax will post 0.75 earnings per share for the current year.

Insider Activity

In other Nayax news, CEO Yair Nechmad acquired 44,148 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average price of $47.84 per share, with a total value of $2,112,040.32. Following the completion of the transaction, the chief executive officer owned 7,524,641 shares in the company, valued at $359,978,825.44. The trade was a 0.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David Ben-Avi bought 700 shares of Nayax 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 completion of the purchase, the insider directly owned 6,592,402 shares of the company’s stock, valued at approximately $283,934,754.14. The trade was a 0.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 198,962 shares of company stock worth $8,972,432 and sold 3,161 shares worth $152,241.

Institutional Trading of Nayax

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in shares of Nayax in the 2nd quarter valued at $650,000. Public Employees Retirement System of Ohio bought a new stake in shares of Nayax in the 2nd quarter valued at $239,000. Bank of America Corp DE raised its stake 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 worth $519,000 after buying an additional 8,727 shares during the period. Altshuler Shaham Ltd raised its stake in Nayax by 5.0% during the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after buying an additional 1,731 shares during the period. Finally, Y.D. More Investments Ltd raised its stake in Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after buying an additional 25,694 shares during the period. Institutional investors and hedge funds own 34.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays lowered their price target on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings cut Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, August 14th. UBS Group restated a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group started coverage on shares of Nayax in a research note on Wednesday, October 7th. They set a “buy” rating and a $68.30 target price for the company. 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.46.

About Nayax

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.