Nayax (NASDAQ:NYAX) Shares Gap Down – Should You Sell?

Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Friday . The stock had previously closed at $68.00, but opened at $64.02. Nayax shares last traded at $64.3070, with a volume of 1,675 shares trading hands.

Analyst Ratings Changes

NYAX has been the topic of a number of research reports. Oppenheimer raised Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a report on Wednesday, May 27th. Keefe, Bruyette & Woods increased their price objective on Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. UBS Group lifted their target price on Nayax from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $79.80 target price on shares of Nayax in a report on Thursday, May 14th. Finally, William Blair restated an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.95.

Nayax Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 81.16 and a beta of 0.41. The stock’s 50 day moving average price is $67.48 and its two-hundred day moving average price is $59.27.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). The company had revenue of $106.86 million during the quarter, compared to analyst estimates of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. On average, analysts forecast that Nayax Ltd. will post 0.73 EPS for the current year.

Insider Buying and Selling

In related news, CMO Michal Sever sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $64.32, for a total value of $321,600.00. Following the completion of the transaction, the chief marketing officer directly owned 17,306 shares of the company’s stock, valued at $1,113,121.92. This trade represents a 22.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David Ben-Avi sold 16,590 shares of Nayax stock in a transaction on Friday, May 29th. The stock was sold at an average price of $76.48, for a total value of $1,268,803.20. Following the transaction, the insider directly owned 6,587,718 shares of the company’s stock, valued at approximately $503,828,672.64. This represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 47,901 shares of company stock valued at $3,496,580 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Nayax by 4,022.5% during the 3rd quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock worth $26,210,000 after buying an additional 535,476 shares during the last quarter. AltraVue Capital LLC acquired a new stake in Nayax in the 4th quarter valued at about $11,623,000. Goldman Sachs Group Inc. increased its holdings in Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after acquiring an additional 72,357 shares in the last quarter. Finally, UBS Group AG raised its position in Nayax by 12,665.1% during the fourth quarter. UBS Group AG now owns 57,443 shares of the company’s stock worth $2,907,000 after acquiring an additional 56,993 shares during the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.