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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Friday . The stock had previously closed at $68.00, but opened at $64.02. Nayax shares last traded at $64.3070, with a volume of 1,675 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYAX. UBS Group lifted their price objective on Nayax from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 target price on the stock in a report on Wednesday, May 27th. Wall Street Zen downgraded Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research cut Nayax from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, William Blair restated an “outperform” rating on shares of Nayax in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.95.

Nayax Stock Performance

The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 81.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.99 and a quick ratio of 0.88. The stock’s 50-day moving average is $67.48 and its 200-day moving average is $59.27.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The business had revenue of $106.86 million for the quarter, compared to analysts’ expectations of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. Analysts anticipate that Nayax Ltd. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David Ben-Avi sold 16,590 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $76.48, for a total value of $1,268,803.20. Following the sale, the insider directly owned 6,587,718 shares of the company’s stock, valued at approximately $503,828,672.64. This trade represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carly Lisanne Furman sold 382 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $68.08, for a total transaction of $26,006.56. Following the completion of the sale, the chief executive officer owned 21,439 shares of the company’s stock, valued at approximately $1,459,567.12. The trade was a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 47,901 shares of company stock worth $3,496,580 over the last ninety days.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently modified their holdings of NYAX. Russell Investments Group Ltd. grew its holdings in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Osaic Holdings Inc. purchased a new position in Nayax in the second quarter valued at approximately $33,000. Bank of America Corp DE raised its holdings in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC acquired a new position in Nayax during the fourth quarter valued at approximately $69,000. Finally, Alliancebernstein L.P. acquired a new position in Nayax during the third quarter valued at approximately $128,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.