Nayax (NASDAQ:NYAX) Shares Down 7.9% Following Weak Earnings

Nayax Ltd. (NASDAQ:NYAX) shares fell 7.9% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $65.99 and last traded at $65.7190. 7,246 shares were traded during mid-day trading, a decline of 57% from the average session volume of 16,972 shares. The stock had previously closed at $71.39.

The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). The company had revenue of $106.86 million for the quarter, compared to analysts’ expectations of $105.64 million. Nayax had a return on equity of 11.60% and a net margin of 8.87%.

Analysts Set New Price Targets

A number of research firms recently commented on NYAX. Weiss Ratings restated a “sell (d-)” rating on shares of Nayax in a report on Thursday, January 22nd. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Keefe, Bruyette & Woods raised their target price on Nayax from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, March 10th. UBS Group reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Nayax in a research note on Wednesday. Finally, William Blair restated an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $58.33.

Insider Buying and Selling

In related news, insider Aaron Samuel Greenberg sold 1,002 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total value of $64,067.88. Following the sale, the insider owned 25,753 shares of the company’s stock, valued at $1,646,646.82. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,754 shares of Nayax stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $112,150.76. Following the completion of the transaction, the chief financial officer directly owned 47,523 shares in the company, valued at approximately $3,038,620.62. This represents a 3.56% 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 have sold a total of 3,032 shares of company stock worth $195,657 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd grew its position in Nayax by 3.2% in the 4th quarter. Y.D. More Investments Ltd now owns 839,477 shares of the company’s stock valued at $42,399,000 after purchasing an additional 26,146 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Nayax by 57.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company’s stock worth $10,044,000 after acquiring an additional 72,354 shares during the last quarter. SPX Gestao de Recursos Ltda raised its holdings in shares of Nayax by 25.4% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 23,958 shares of the company’s stock worth $1,212,000 after acquiring an additional 4,849 shares during the last quarter. Legal & General Group Plc lifted its position in Nayax by 18.6% in the 2nd quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after acquiring an additional 2,214 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Nayax by 8.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,058 shares of the company’s stock valued at $407,000 after purchasing an additional 594 shares during the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Price Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.16 and a current ratio of 2.26. The business has a 50 day simple moving average of $61.38 and a 200-day simple moving average of $53.83. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 69.15 and a beta of 0.39.

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.