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

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $56.50, but opened at $58.93. Nayax shares last traded at $59.0910, with a volume of 7,949 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Nayax from $47.00 to $52.00 and gave the company a “market perform” rating in a research report on Friday, January 2nd. Zacks Research lowered Nayax from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 20th. UBS Group boosted their target price on shares of Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Wall Street Zen lowered shares of Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.00.

Nayax Price Performance

The company has a 50-day moving average price of $46.49 and a 200-day moving average price of $46.45. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 92.01 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.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). Nayax had a return on equity of 6.51% and a net margin of 6.49%.The business had revenue of $104.28 million for the quarter, compared to analyst estimates of $109.51 million. On average, equities research analysts expect that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently made changes to their positions in NYAX. Russell Investments Group Ltd. increased its holdings in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. Osaic Holdings Inc. acquired a new stake in Nayax during the 2nd quarter worth approximately $33,000. Bank of America Corp DE boosted its stake in Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after purchasing an additional 1,353 shares during the period. Alliancebernstein L.P. acquired a new position in Nayax in the 3rd quarter valued at $128,000. Finally, Ascent Group LLC bought a new position in Nayax during the 2nd quarter worth $220,000. 34.87% of the stock is owned by institutional investors.

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.