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

Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Monday . The stock had previously closed at $29.63, but opened at $28.15. Nayax shares last traded at $28.30, with a volume of 6,736 shares changing hands.

Analysts Set New Price Targets

NYAX has been the subject of several analyst reports. B. Riley initiated coverage on shares of Nayax in a research note on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price for the company. Oppenheimer started coverage on shares of Nayax in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Barclays lifted their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Nayax has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Nayax Price Performance

The company’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $24.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The company has a market capitalization of $995.72 million, a P/E ratio of -90.58 and a beta of -0.07.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The firm had revenue of $83.01 million during the quarter, compared to the consensus estimate of $88.40 million. During the same period last year, the business posted ($0.09) earnings per share. As a group, sell-side analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Trading of Nayax

Institutional investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new stake in shares of Nayax during the second quarter worth $14,790,000. Assenagon Asset Management S.A. boosted its holdings in Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after purchasing an additional 115,262 shares during the period. Swedbank AB grew its position in shares of Nayax by 107.6% during the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Nayax during the second quarter worth approximately $1,673,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Nayax in the second quarter valued at approximately $1,010,000. 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.