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

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

Analyst Ratings Changes

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

Nayax Trading Down 4.4%

The company has a quick ratio of 1.62, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.84 billion, a P/E ratio of 81.02 and a beta of 0.14. The firm’s 50-day simple moving average is $54.25 and its 200 day simple moving average is $48.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised 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 acquiring an additional 1,353 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after purchasing an additional 89,886 shares during the period. Savant Capital LLC purchased a new stake in shares of Nayax during the 2nd quarter valued at approximately $433,000. Geode Capital Management LLC boosted its holdings in Nayax by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock worth $1,685,000 after buying an additional 5,523 shares during the period. Finally, Y.D. More Investments Ltd boosted its holdings in Nayax by 6.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company’s stock worth $59,025,000 after buying an additional 72,751 shares during the period. Institutional investors 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.