Nayax (NASDAQ:NYAX) Shares Gap Up – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $46.33, but opened at $49.00. Nayax shares last traded at $48.4060, with a volume of 12,410 shares.

Analyst Ratings Changes

Several brokerages have issued reports on NYAX. UBS Group reaffirmed a “neutral” rating and set a $70.00 target price on shares of Nayax in a research report on Tuesday, August 11th. Jefferies Financial Group began coverage on Nayax in a research report on Wednesday, October 7th. They issued a “buy” rating and a $68.30 price target for the company. Barclays reduced their price target on Nayax from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings cut Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. Finally, Zacks Research raised Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $73.46.

Nayax Stock Up 5.2%

The company’s 50 day moving average price is $47.83 and its 200 day moving average price is $59.84. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 232.09 and a beta of 0.46.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%. The company had revenue of $122.59 million during the quarter, compared to analyst estimates of $116.75 million. As a group, research analysts forecast that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Nayax

In other news, insider David Ben-Avi bought 1,554 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were purchased at an average price of $43.18 per share, for a total transaction of $67,101.72. Following the completion of the transaction, the insider directly owned 6,591,702 shares in the company, valued at approximately $284,629,692.36. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Yair Nechmad bought 104,511 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average price of $44.09 per share, for a total transaction of $4,607,889.99. Following the transaction, the chief executive officer owned 7,433,558 shares of the company’s stock, valued at $327,745,572.22. The trade was a 1.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 198,962 shares of company stock worth $8,972,432 and sold 3,161 shares worth $152,241.

Hedge Funds Weigh In On Nayax

A number of institutional investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd lifted its stake in Nayax by 3.1% during the 1st 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 during the period. Assenagon Asset Management S.A. increased its stake in shares of Nayax by 36.4% in the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after acquiring an additional 72,357 shares during the period. Tidal Investments LLC acquired a new stake in shares of Nayax in the second quarter worth $650,000. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax during the second quarter worth $239,000. Finally, Bank of America Corp DE raised its holdings in shares of Nayax by 1,607.2% during the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after purchasing an additional 8,727 shares during the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

About Nayax

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.