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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped down before the market opened on Friday . The stock had previously closed at $34.19, but opened at $33.30. Nayax shares last traded at $33.13, with a volume of 9,013 shares changing hands.

Analysts Set New Price Targets

NYAX has been the topic of several research analyst reports. Oppenheimer initiated coverage on shares of Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods boosted their price target on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Jefferies Financial Group raised Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays increased their price target on shares of 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 started coverage on shares of Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.25.

Nayax Trading Down 1.1 %

The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $29.92 and its two-hundred day moving average price is $26.61. The firm has a market cap of $1.16 billion, a PE ratio of -105.48 and a beta of -0.03.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $88.40 million. During the same quarter last year, the business posted ($0.09) earnings per share. As a group, sell-side analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in NYAX. Assenagon Asset Management S.A. boosted its position in Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after buying an additional 115,262 shares during the last quarter. Swedbank AB lifted its holdings in shares of Nayax by 107.6% in the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares during the last quarter. Azora Capital LP increased its holdings in shares of Nayax by 4.9% in the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after acquiring an additional 4,724 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Nayax during the third quarter valued at approximately $69,000. Finally, Barclays PLC boosted its position in Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after acquiring an additional 2,266 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.