Nayax (NASDAQ:NYAX) Shares Gap Up – Still a Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Monday . The stock had previously closed at $26.67, but opened at $27.95. Nayax shares last traded at $28.00, with a volume of 1,966 shares traded.

Analyst Ratings Changes

NYAX has been the topic of several recent analyst reports. Oppenheimer began coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods dropped their price objective on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, Barclays raised their target price on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th.

Nayax Price Performance

The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -67.64 and a beta of 0.03. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $25.05 and its 200 day moving average is $24.54.

Nayax (NASDAQ:NYAX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $78.09 million for the quarter, compared to analyst estimates of $78.10 million. Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. During the same quarter last year, the firm posted ($0.12) EPS. Research analysts anticipate that Nayax Ltd. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Nayax

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. acquired a new position in shares of Nayax in the 1st quarter valued at $1,302,000. Hood River Capital Management LLC purchased a new position in Nayax during the 1st quarter worth $102,000. Swedbank AB acquired a new position in Nayax in the first quarter valued at $2,620,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nayax in the second quarter valued at about $1,673,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nayax by 16.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after buying an additional 1,099 shares during the period. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

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.