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

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $29.09, but opened at $25.91. Nayax shares last traded at $25.95, with a volume of 3,292 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NYAX. Oppenheimer initiated coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group raised Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nayax presently has a consensus rating of “Hold” and a consensus price target of $27.33.

Nayax Stock Performance

The firm has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $24.80. 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 has a market capitalization of $992.88 million, a price-to-earnings ratio of -90.32 and a beta of -0.08.

Hedge Funds Weigh In On Nayax

A number of hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in Nayax by 1.2% in the second quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock worth $1,072,000 after acquiring an additional 616 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nayax by 16.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after purchasing an additional 1,099 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares in the last quarter. ARK Investment Management LLC increased its position in Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock worth $2,261,000 after buying an additional 1,445 shares during the last quarter. Finally, Ingalls & Snyder LLC bought a new position in Nayax during the second quarter valued at about $229,000. Institutional investors and hedge funds 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.