Nayax (NASDAQ:NYAX) Shares Gap Up – Time to Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Thursday . The stock had previously closed at $39.72, but opened at $41.26. Nayax shares last traded at $41.3950, with a volume of 515 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. UBS Group upped their target price on Nayax from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.67.

Nayax Stock Up 0.8%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59 and a current ratio of 1.68. The business has a 50 day simple moving average of $46.21 and a 200-day simple moving average of $45.26. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 72.74 and a beta of 0.20.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Nayax had a net margin of 6.06% and a return on equity of 5.32%. The firm had revenue of $95.59 million during the quarter, compared to analyst estimates of $99.16 million. On average, equities analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Nayax in the 2nd quarter valued at approximately $33,000. Bank of America Corp DE lifted its holdings in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,353 shares during the last quarter. Ascent Group LLC purchased a new position in shares of Nayax during the 2nd quarter worth approximately $220,000. Finally, Bosun Asset Management LLC acquired a new stake in Nayax in the 1st quarter valued at approximately $332,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

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.