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

Nayax Ltd. (NASDAQ:NYAX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $45.51, but opened at $44.44. Nayax shares last traded at $44.39, with a volume of 3,614 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NYAX. B. Riley reissued a “buy” rating and set a $47.00 price target (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. William Blair raised shares of Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. Wall Street Zen cut shares of Nayax from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Keefe, Bruyette & Woods lifted their price target on shares of Nayax from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nayax in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Nayax Price Performance

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 firm has a market capitalization of $1.63 billion, a PE ratio of -148.16 and a beta of 0.13. The firm’s fifty day simple moving average is $39.75 and its 200-day simple moving average is $35.62.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $81.11 million during the quarter, compared to analysts’ expectations of $85.08 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. On average, research analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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% during the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after purchasing an additional 354,350 shares during the last quarter. Hood River Capital Management LLC raised its holdings in shares of Nayax by 144.6% during the fourth quarter. Hood River Capital Management LLC now owns 14,118 shares of the company’s stock valued at $412,000 after purchasing an additional 8,346 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Nayax during the fourth quarter valued at approximately $1,581,000. Verdence Capital Advisors LLC purchased a new position in shares of Nayax during the fourth quarter valued at approximately $326,000. Finally, Jane Street Group LLC purchased a new position in shares of Nayax during the fourth quarter valued at approximately $351,000. 34.87% of the stock is owned by hedge funds and other 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.