Nayax (NASDAQ:NYAX) Shares Gap Down – Time to Sell?

Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Tuesday . The stock had previously closed at $44.17, but opened at $42.53. Nayax shares last traded at $43.6520, with a volume of 6,836 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NYAX. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Barclays reduced their price objective on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Oppenheimer upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a research report on Wednesday, May 27th. Keefe, Bruyette & Woods raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, August 14th. Finally, UBS Group reissued a “neutral” rating and issued a $70.00 price target on shares of Nayax in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.76.

Nayax Trading Down 1.8%

The company’s fifty day moving average price is $56.37 and its two-hundred day moving average price is $61.51. 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 company has a market cap of $1.59 billion, a price-to-earnings ratio of 206.52 and a beta of 0.43.

Nayax (NASDAQ:NYAX) last announced its 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. The business had revenue of $122.59 million for the quarter, compared to the consensus estimate of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. Research analysts expect that Nayax Ltd. will post 0.75 earnings per share for the current year.

Insider Transactions at Nayax

In other news, insider Eden Zafrani sold 500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $64.89, for a total value of $32,445.00. Following the completion of the sale, the insider directly owned 14,869 shares in the company, valued at approximately $964,849.41. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sagit Manor sold 1,252 shares of Nayax stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total value of $83,558.48. Following the completion of the transaction, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at $3,019,184.12. This represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 4,713 shares of company stock worth $273,324.

Hedge Funds Weigh In On Nayax

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Nayax during the 2nd quarter worth $239,000. Bank of America Corp DE increased its stake in shares of Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after buying an additional 8,727 shares during the period. Tidal Investments LLC acquired a new stake in shares of Nayax in the 2nd quarter valued at $650,000. Legato Capital Management LLC bought a new stake in shares of Nayax during the fourth quarter worth $1,072,000. Finally, Altshuler Shaham Ltd raised its position in shares of Nayax by 140.0% during the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock worth $1,742,000 after acquiring an additional 20,121 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

About Nayax

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.