Nayax Ltd. (NASDAQ:NYAX) Sees Large Drop in Short Interest

Nayax Ltd. (NASDAQ:NYAX) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 33,623 shares, a drop of 47.8% from the May 14th total of 64,457 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 20,090 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NYAX shares. Jefferies Financial Group reiterated a “buy” rating and set a $79.80 price target on shares of Nayax in a research note on Thursday, May 14th. William Blair reiterated an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Wall Street Zen downgraded shares of Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Oppenheimer upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Nayax from $60.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.20.

Nayax Stock Performance

NYAX traded up $1.51 during trading on Friday, reaching $67.84. 8,120 shares of the company’s stock were exchanged, compared to its average volume of 17,321. Nayax has a fifty-two week low of $39.17 and a fifty-two week high of $76.86. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $66.30 and a 200 day moving average price of $57.92. The company has a market capitalization of $2.48 billion, a P/E ratio of 85.87 and a beta of 0.41.

Nayax (NASDAQ:NYAX) last issued its earnings results 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 firm had revenue of $106.86 million during the quarter, compared to analyst estimates of $105.64 million. As a group, analysts predict that Nayax will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Carly Lisanne Furman sold 382 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $68.08, for a total value of $26,006.56. Following the sale, the chief executive officer owned 21,439 shares in the company, valued at approximately $1,459,567.12. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 440 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $73.31, for a total transaction of $32,256.40. Following the completion of the sale, the insider owned 25,915 shares in the company, valued at approximately $1,899,828.65. The trade was a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 47,901 shares of company stock valued at $3,496,580 in the last 90 days.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently made changes to their positions in NYAX. Russell Investments Group Ltd. boosted its stake in shares of Nayax by 210.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Nayax in the 2nd quarter valued at $33,000. Bank of America Corp DE boosted its stake in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC acquired a new stake in shares of Nayax in the 4th quarter valued at $69,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Nayax in the 3rd quarter valued at $128,000. Institutional investors and hedge funds 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.