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

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped down prior to trading on Thursday. The stock had previously closed at $48.29, but opened at $45.66. Nayax shares last traded at $45.9750, with a volume of 1,527 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on NYAX. Jefferies Financial Group started coverage on shares of Nayax in a research report on Wednesday. They set a “buy” rating and a $68.30 price objective for the company. Barclays decreased their price target on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings lowered Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. UBS Group restated a “neutral” rating and set a $70.00 target price on shares of Nayax in a report on Tuesday, August 11th. Finally, Zacks Research raised Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.46.

Nayax Price Performance

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 company has a market cap of $1.67 billion, a PE ratio of 217.14 and a beta of 0.46. The company’s 50-day simple moving average is $50.51 and its 200 day simple moving average is $60.25.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data 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. The business had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. On average, sell-side analysts predict that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David Ben-Avi acquired 700 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average price of $43.07 per share, for a total transaction 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 represents a 0.01% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gal Omer sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $45.17, for a total value of $67,755.00. Following the transaction, the insider directly owned 18,539 shares of the company’s stock, valued at approximately $837,406.63. This represents a 7.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 198,962 shares of company stock worth $8,972,432 and have sold 3,161 shares worth $152,241.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its position in shares of Nayax by 5.0% in the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after purchasing an additional 1,731 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Nayax during the 2nd quarter worth $239,000. Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 8,727 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Nayax during the second quarter worth $650,000. Finally, Y.D. More Investments Ltd grew its stake in shares of Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after purchasing an additional 25,694 shares in the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

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.