Nayax (NASDAQ:NYAX) Shares Gap Down – Time to Sell?

Nayax Ltd. (NASDAQ:NYAX) gapped down before the market opened on Wednesday . The stock had previously closed at $33.92, but opened at $32.53. Nayax shares last traded at $32.53, with a volume of 211 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NYAX shares. Keefe, Bruyette & Woods boosted their price objective on shares of Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Oppenheimer began coverage on Nayax in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Barclays lifted their target price on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, B. Riley initiated coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target for the company. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Price Performance

The stock has a 50-day moving average price of $28.82 and a two-hundred day moving average price of $25.77. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -105.35 and a beta of -0.03.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The business had revenue of $83.01 million during the quarter, compared to the consensus estimate of $88.40 million. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, equities research analysts forecast that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently made changes to their positions in NYAX. Y.D. More Investments Ltd acquired a new position in shares of Nayax in the 2nd quarter valued at $14,790,000. Altshuler Shaham Ltd purchased a new stake in Nayax during the 2nd quarter valued at about $1,010,000. Hood River Capital Management LLC grew its stake in Nayax by 35.8% during the 2nd quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock valued at $116,000 after purchasing an additional 1,401 shares during the last quarter. Swedbank AB increased its holdings in shares of Nayax by 107.6% in the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after purchasing an additional 107,559 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Nayax by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after purchasing an additional 115,262 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

About Nayax

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.