Nayax (NASDAQ:NYAX) Shares Gap Up – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $46.18, but opened at $52.28. Nayax shares last traded at $52.77, with a volume of 38,864 shares trading hands.

Analyst Upgrades and Downgrades

NYAX has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. UBS Group reissued a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. Barclays cut their target price on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.76.

Nayax Price Performance

The firm has a market capitalization of $1.92 billion, a P/E ratio of 250.31 and a beta of 0.47. The company has a fifty day moving average of $63.11 and a 200 day moving average of $62.30. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. The firm had revenue of $122.59 million during the quarter, compared to analyst estimates of $116.75 million. Nayax had a net margin of 1.74% and a return on equity of 10.45%. Sell-side analysts predict that Nayax Ltd. will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Nayax

In related news, insider Oren Tepper sold 1,052 shares of Nayax stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.31, for a total transaction of $77,122.12. Following the completion of the transaction, the insider owned 19,392 shares of the company’s stock, valued at $1,421,627.52. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Ben-Avi sold 16,590 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $76.48, for a total transaction of $1,268,803.20. Following the sale, the insider directly owned 6,587,718 shares in the company, valued at $503,828,672.64. This trade represents a 0.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 42,148 shares of company stock valued at $3,129,268 over the last three months.

Institutional Investors Weigh In On Nayax

Large investors have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd increased its holdings in Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after purchasing an additional 25,694 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nayax by 4,022.5% during the 3rd quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock worth $26,210,000 after buying an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Nayax by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Nayax by 36.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock valued at $15,195,000 after acquiring an additional 72,357 shares in the last quarter. Finally, AltraVue Capital LLC acquired a new position in shares of Nayax during the 4th quarter valued at $11,623,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

About Nayax

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.