Financial Analysis: Nyxoah (NASDAQ:NYXH) versus Ayr Wellness (OTCMKTS:AYRWF)

Ayr Wellness (OTCMKTS:AYRWF) and Nyxoah (NASDAQ:NYXH) are both small-cap healthcare companies, but which is the better investment? We will contrast the two businesses based on the strength of their valuation, profitability, risk, analyst recommendations, institutional ownership, dividends and earnings.

Analyst Recommendations

This is a breakdown of recent ratings and recommmendations for Ayr Wellness and Nyxoah, as provided by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Ayr Wellness	0	0	0	0	0.00
Nyxoah	1	1	2	0	2.25

Nyxoah has a consensus target price of $5.96, indicating a potential upside of 314.35%. Given Nyxoah’s stronger consensus rating and higher probable upside, analysts plainly believe Nyxoah is more favorable than Ayr Wellness.

Institutional and Insider Ownership

0.9% of Ayr Wellness shares are owned by institutional investors. 8.1% of Ayr Wellness shares are owned by insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company is poised for long-term growth.

Earnings and Valuation

This table compares Ayr Wellness and Nyxoah”s gross revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Ayr Wellness	$463.63 million	0.00	-$359.31 million	($1.62)	N/A
Nyxoah	$11.33 million	4.92	-$101.92 million	($2.48)	-0.58

Nyxoah has lower revenue, but higher earnings than Ayr Wellness. Nyxoah is trading at a lower price-to-earnings ratio than Ayr Wellness, indicating that it is currently the more affordable of the two stocks.

Volatility and Risk

Ayr Wellness has a beta of 1.8, indicating that its stock price is 80% more volatile than the S&P 500. Comparatively, Nyxoah has a beta of 1.62, indicating that its stock price is 62% more volatile than the S&P 500.

Profitability

This table compares Ayr Wellness and Nyxoah’s net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Ayr Wellness	N/A	N/A	N/A
Nyxoah	-543.21%	-163.73%	-80.24%

Summary

Ayr Wellness beats Nyxoah on 8 of the 12 factors compared between the two stocks.

About Ayr Wellness

Ayr Wellness Inc. operates as a vertically-integrated multi-state cannabis operator that cultivates, manufactures, and retails cannabis products and branded cannabis packaged goods. It owns and operates a chain of cannabis retail stores under AYR, Liberty Health Sciences, and The Dispensary brand names. The company was formerly known as Ayr Strategies Inc. and changed its name to Ayr Wellness Inc. in February 2021. Ayr Wellness Inc. was incorporated in 2017 and is headquartered in Miami, Florida.

About Nyxoah

Nyxoah S.A., a medical technology company, focuses on the development and commercialization of solutions to treat sleep disordered breathing conditions. The company’s lead solution comprises Genio system, a CE-Marked, patient-centric, and hypoglossal neurostimulation therapy to treat moderate to severe obstructive sleep apnea. Nyxoah S.A. was incorporated in 2009 and is headquartered in Mont-Saint-Guibert, Belgium.