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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Thursday. The stock had previously closed at $48.29, but opened at $45.66. Nayax shares last traded at $45.9750, with a volume of 1,527 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NYAX. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Barclays reduced their price objective on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. UBS Group reissued a “neutral” rating and set a $70.00 target price on shares of Nayax in a research note on Tuesday, August 11th. Keefe, Bruyette & Woods upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, August 14th. Finally, Jefferies Financial Group initiated coverage on shares of Nayax in a research report on Wednesday. They set a “buy” rating and a $68.30 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nayax has a consensus rating of “Moderate Buy” and an average target price of $73.46.

Nayax Price Performance

The stock has a market capitalization of $1.67 billion, a P/E ratio of 217.43 and a beta of 0.46. The business has a fifty day simple moving average of $51.39 and a 200-day simple moving average of $60.46. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The company had revenue of $122.59 million during the quarter, compared to analyst estimates of $116.75 million. Sell-side analysts expect that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Nayax

In related news, CEO Yair Nechmad acquired 44,148 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $47.84 per share, for a total transaction of $2,112,040.32. Following the completion of the acquisition, the chief executive officer owned 7,524,641 shares of the company’s stock, valued at approximately $359,978,825.44. This trade represents a 0.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Ben-Avi acquired 700 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $43.07 per share, for a total transaction of $30,149.00. Following the transaction, the insider directly owned 6,592,402 shares in the company, valued at approximately $283,934,754.14. This represents a 0.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 198,962 shares of company stock valued at $8,972,432 and sold 3,161 shares valued at $152,241.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in Nayax in the second quarter valued at approximately $650,000. Public Employees Retirement System of Ohio acquired a new position in shares of Nayax during the second quarter worth approximately $239,000. Bank of America Corp DE lifted its holdings in shares of Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after purchasing an additional 8,727 shares in the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Nayax by 5.0% in the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Y.D. More Investments Ltd grew its position in Nayax by 3.1% in the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after purchasing an additional 25,694 shares during the period. Institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.