Nayax (NASDAQ:NYAX) Shares Gap Up – Here’s What Happened

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $42.63, but opened at $43.62. Nayax shares last traded at $44.0410, with a volume of 6,818 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NYAX shares. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target for the company in a research report on Wednesday, May 27th. Barclays decreased their price objective on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings lowered Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. UBS Group reiterated a “neutral” rating and issued a $70.00 target price on shares of Nayax in a report on Tuesday, August 11th. Finally, Zacks Research raised Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nayax has a consensus rating of “Hold” and an average target price of $75.76.

Nayax Stock Performance

The firm has a market capitalization of $1.62 billion, a P/E ratio of 211.19 and a beta of 0.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03. The firm has a 50-day moving average price of $55.58 and a two-hundred day moving average price of $61.32.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Nayax had a net margin of 1.74% and a return on equity of 10.45%. The company had revenue of $122.59 million for the quarter, compared to the consensus estimate of $116.75 million. On average, analysts forecast that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity at Nayax

In other news, CFO Sagit Manor sold 1,252 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the transaction, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at approximately $3,019,184.12. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eden Zafrani sold 500 shares of Nayax stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total transaction of $32,445.00. Following the sale, the insider directly owned 14,869 shares of the company’s stock, valued at $964,849.41. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,713 shares of company stock valued at $273,324 over the last 90 days.

Institutional Investors Weigh In On Nayax

Institutional investors and hedge funds have recently bought and sold shares of the company. AltraVue Capital LLC purchased a new stake in shares of Nayax in the 4th quarter worth $11,623,000. Assenagon Asset Management S.A. increased its stake in shares of Nayax by 36.4% during the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after buying an additional 72,357 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in shares of Nayax by 140.0% in the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after acquiring an additional 20,121 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Nayax in the second quarter worth about $650,000. 34.87% of the stock is owned by institutional investors.

Nayax Company Profile

Nayax Ltd. (NASDAQ: NYAX) is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company’s products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.