Nayax (NASDAQ:NYAX) Shares Gap Down – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $34.68, but opened at $33.62. Nayax shares last traded at $34.79, with a volume of 301 shares trading hands.

Analyst Upgrades and Downgrades

NYAX has been the subject of a number of recent analyst reports. B. Riley restated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Nayax in a report on Wednesday, March 5th. Keefe, Bruyette & Woods raised their target price on Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.75.

Nayax Stock Performance

The business has a 50 day moving average price of $36.90 and a 200 day moving average price of $31.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The stock has a market capitalization of $1.20 billion, a PE ratio of -109.51 and a beta of 0.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd raised its holdings in Nayax by 42.7% in the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock worth $34,630,000 after acquiring an additional 354,350 shares during the last quarter. Swedbank AB raised its stake in shares of Nayax by 107.6% in the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Nayax during the fourth quarter valued at $1,581,000. Jane Street Group LLC purchased a new stake in shares of Nayax during the fourth quarter valued at $351,000. Finally, Verdence Capital Advisors LLC bought a new stake in Nayax in the 4th quarter worth about $326,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.