Nayax (NASDAQ:NYAX) Shares Down 6.1% – Time to Sell?

Nayax Ltd. (NASDAQ:NYAX)’s stock price was down 6.1% during trading on Monday . The company traded as low as $32.38 and last traded at $32.30. Approximately 5,639 shares traded hands during trading, a decline of 29% from the average daily volume of 7,888 shares. The stock had previously closed at $34.40.

Wall Street Analysts Forecast Growth

NYAX has been the topic of a number of recent research reports. B. Riley restated a “buy” rating and issued a $44.00 target price (up from $42.00) on shares of Nayax in a report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their target price on shares of Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, March 6th. Finally, William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Nayax presently has an average rating of “Hold” and an average target price of $34.75.

Nayax Price Performance

The company’s 50-day simple moving average is $36.89 and its 200 day simple moving average is $31.66. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.27 billion, a P/E ratio of -115.38 and a beta of 0.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd raised its holdings in shares of Nayax by 42.7% in the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock worth $34,630,000 after buying an additional 354,350 shares in the last quarter. Swedbank AB lifted its holdings in shares of Nayax by 44.5% during the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after acquiring an additional 92,441 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Nayax during the fourth quarter valued at $1,581,000. Baillie Gifford & Co. boosted its position in Nayax by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock valued at $1,517,000 after buying an additional 1,161 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Nayax by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 27,976 shares of the company’s stock valued at $828,000 after purchasing an additional 650 shares in the last quarter. Institutional investors 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.