Nayax (NASDAQ:NYAX) Shares Down 5.2% – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) dropped 5.2% during mid-day trading on Tuesday . The stock traded as low as $51.95 and last traded at $51.4160. Approximately 2,386 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 10,321 shares. The stock had previously closed at $54.23.

Analyst Upgrades and Downgrades

NYAX has been the topic of a number of recent research reports. Wall Street Zen cut Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a research report on Thursday, January 22nd. UBS Group increased their price objective on shares of Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Nayax from $47.00 to $52.00 and gave the company a “market perform” rating in a research note on Friday, January 2nd. Finally, Zacks Research raised shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Stock Up 1.2%

The company has a market capitalization of $1.83 billion, a PE ratio of 80.63 and a beta of 0.14. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.62 and a current ratio of 1.71. The firm has a fifty day simple moving average of $54.54 and a 200-day simple moving average of $48.91.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd increased its holdings in Nayax by 6.6% in the second quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company’s stock valued at $59,025,000 after buying an additional 72,751 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Nayax in the 2nd quarter worth approximately $433,000. Legal & General Group Plc increased its holdings in shares of Nayax by 18.6% in the 2nd quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after acquiring an additional 2,214 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nayax by 19.7% during the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock valued at $1,685,000 after acquiring an additional 5,523 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares in the last quarter. 34.87% of the stock is currently owned by institutional investors.

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.