Nayax Ltd. (NASDAQ:NYAX) Sees Significant Growth in Short Interest

Nayax Ltd. (NASDAQ:NYAX) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 64,457 shares, an increase of 222.0% from the April 30th total of 20,015 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 47,212 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

NYAX has been the topic of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. UBS Group raised their price objective on Nayax from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Nayax from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research cut Nayax from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $79.80 price objective on shares of Nayax in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $77.20.

Nayax Trading Up 2.3%

Shares of Nayax stock opened at $75.81 on Friday. The stock has a market capitalization of $2.78 billion, a PE ratio of 95.96 and a beta of 0.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99. Nayax has a 52 week low of $39.17 and a 52 week high of $76.86. The stock has a 50 day moving average price of $64.23 and a two-hundred day moving average price of $56.15.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $106.86 million for the quarter, compared to analyst estimates of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. As a group, equities analysts anticipate that Nayax will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Nayax

In related news, CMO Michal Sever sold 5,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $64.32, for a total transaction of $321,600.00. Following the transaction, the chief marketing officer directly owned 17,306 shares of the company’s stock, valued at $1,113,121.92. This represents a 22.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $112,150.76. Following the transaction, the chief financial officer directly owned 47,523 shares in the company, valued at approximately $3,038,620.62. This represents a 3.56% decrease in their ownership of the stock. 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 sold 13,033 shares of company stock valued at $873,328 in the last ninety days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Nayax by 210.5% in the second 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. bought a new position in shares of Nayax in the second quarter valued at approximately $33,000. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC bought a new position in shares of Nayax in the fourth quarter valued at approximately $69,000. Finally, Alliancebernstein L.P. bought a new position in shares of Nayax in the third quarter valued at approximately $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.