Nayax (NASDAQ:NYAX) Shares Down 11% – Here’s What Happened

Nayax Ltd. (NASDAQ:NYAX) was down 11% during trading on Tuesday . The company traded as low as $65.07 and last traded at $64.05. Approximately 29,465 shares changed hands during mid-day trading, an increase of 53% from the average daily volume of 19,209 shares. The stock had previously closed at $71.96.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Nayax in a research report on Monday, March 9th. Jefferies Financial Group restated a “buy” rating and issued a $79.80 target price on shares of Nayax in a research report on Thursday, May 14th. UBS Group increased their price target on shares of Nayax from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective on the stock in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods raised their price objective on Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.95.

Nayax Stock Performance

The company has a market cap of $2.44 billion, a price-to-earnings ratio of 84.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99. The company has a fifty day moving average of $67.98 and a two-hundred day moving average of $60.36.

Nayax (NASDAQ:NYAX) last posted 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). The firm had revenue of $106.86 million during the quarter, compared to the consensus estimate of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. Equities research analysts anticipate that Nayax Ltd. will post 0.73 EPS for the current year.

Insider Buying and Selling at Nayax

In related news, insider Eden Zafrani sold 500 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the sale, the insider owned 14,869 shares of the company’s stock, valued at $964,849.41. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Carly Lisanne Furman sold 382 shares of the 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 completion of the sale, the chief executive officer owned 21,439 shares of the company’s stock, valued at $1,459,567.12. The trade was a 1.75% decrease in their ownership of the stock. 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 sold 50,385 shares of company stock worth $3,659,391 over the last quarter.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings 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 purchasing an additional 400 shares during the last quarter. Osaic Holdings Inc. bought a new position in Nayax during the second quarter worth $33,000. Bank of America Corp DE lifted its holdings in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC bought a new stake in Nayax during the fourth quarter valued at $69,000. Finally, Alliancebernstein L.P. acquired a new stake in Nayax during the 3rd quarter worth about $128,000. Institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

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.