Nayax (NASDAQ:NYAX) Lowered to Strong Sell Rating by Zacks Research

Nayax (NASDAQ:NYAX) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.80 price target on shares of Nayax in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price target on Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, UBS Group raised their price target on Nayax from $55.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.27.

Nayax Trading Down 4.5%

NASDAQ NYAX opened at $65.42 on Wednesday. The company has a market cap of $2.40 billion, a PE ratio of 82.81 and a beta of 0.39. The company has a current ratio of 0.99, a quick ratio of 2.16 and a debt-to-equity ratio of 0.53. Nayax has a 12 month low of $38.50 and a 12 month high of $74.83. The stock has a 50 day moving average of $61.90 and a 200-day moving average of $54.16.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.05). Nayax had a net margin of 6.95% and a return on equity of 14.09%. The company had revenue of $106.86 million during the quarter, compared to analyst estimates of $105.64 million. On average, equities research analysts anticipate that Nayax will post 0.79 EPS for the current fiscal year.

Insider Buying and Selling at Nayax

In other Nayax news, insider Aaron Samuel Greenberg sold 1,002 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $64,067.88. Following the transaction, the insider owned 25,753 shares in the company, valued at $1,646,646.82. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,754 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $112,150.76. Following the transaction, the chief financial officer owned 47,523 shares in the company, valued at $3,038,620.62. The trade was a 3.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 3,051 shares of company stock worth $196,941 in the last quarter.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in Nayax by 9.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,894 shares of the company’s stock worth $197,000 after buying an additional 330 shares during the period. Russell Investments Group Ltd. increased its position in Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Nayax by 8.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,058 shares of the company’s stock worth $407,000 after buying an additional 594 shares during the period. Osaic Holdings Inc. bought a new position in Nayax during the 2nd quarter worth $33,000. Finally, Geode Capital Management LLC increased its position in Nayax by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 36,139 shares of the company’s stock worth $1,825,000 after buying an additional 715 shares during the period. Institutional investors own 34.87% of the company’s stock.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.