Nayax (NASDAQ:NYAX) Shares Gap Down to $24.36

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $24.36, but opened at $23.01. Nayax shares last traded at $23.01, with a volume of 452 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. UBS Group started coverage on shares of Nayax in a research note on Monday, April 29th. They set a “neutral” rating and a $29.00 price objective on the stock. Keefe, Bruyette & Woods assumed coverage on Nayax in a research note on Monday, June 17th. They issued a “market perform” rating and a $27.00 price target for the company. Finally, Barclays initiated coverage on Nayax in a report on Wednesday, May 22nd. They issued an “equal weight” rating and a $27.00 price objective for the company.

Nayax Price Performance

The business has a fifty day moving average of $24.73 and a 200-day moving average of $24.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.27 and a current ratio of 1.36. The firm has a market capitalization of $746.02 million, a P/E ratio of -49.37 and a beta of 0.03.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.13). Nayax had a negative return on equity of 13.46% and a negative net margin of 6.20%. The business had revenue of $63.96 million during the quarter, compared to the consensus estimate of $70.93 million. On average, sell-side analysts forecast that Nayax Ltd. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Nayax

A number of hedge funds and other institutional investors have recently made changes to their positions in NYAX. Swedbank AB bought a new position in shares of Nayax in the first quarter valued at approximately $2,620,000. Hood River Capital Management LLC bought a new position in Nayax during the 1st quarter valued at $102,000. Baillie Gifford & Co. acquired a new position in shares of Nayax during the 1st quarter valued at $1,302,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Nayax in the 1st quarter worth $9,170,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Nayax by 152.9% in the first quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock valued at $1,655,000 after buying an additional 37,853 shares during the period. 34.87% of the stock is currently owned by institutional investors.

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.