Nayax Ltd. (NASDAQ:NYAX) Sees Large Drop in Short Interest

Nayax Ltd. (NASDAQ:NYAX) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 33,623 shares, a drop of 47.8% from the May 14th total of 64,457 shares. Based on an average daily volume of 20,090 shares, the short-interest ratio is currently 1.7 days. Currently, 0.1% of the shares of the stock are sold short.

Insider Activity at Nayax

In other news, CFO Sagit Manor sold 1,754 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total transaction of $112,150.76. Following the completion of the transaction, the chief financial officer owned 47,523 shares in the company, valued at approximately $3,038,620.62. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 firm’s stock in a transaction dated 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 transaction, the insider 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 47,901 shares of company stock worth $3,496,580.

Hedge Funds Weigh In On Nayax

A number of institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd grew its stake in shares of Nayax by 3.2% in the fourth quarter. Y.D. More Investments Ltd now owns 839,477 shares of the company’s stock worth $42,399,000 after acquiring an additional 26,146 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Nayax by 57.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company’s stock worth $10,044,000 after acquiring an additional 72,354 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of Nayax in the fourth quarter worth $1,072,000. AltraVue Capital LLC acquired a new stake in shares of Nayax in the fourth quarter worth $11,623,000. Finally, UBS Group AG grew its stake in shares of Nayax by 12,665.1% in the fourth quarter. UBS Group AG now owns 57,443 shares of the company’s stock worth $2,907,000 after acquiring an additional 56,993 shares during the last quarter. Institutional investors own 34.87% of the company’s stock.

Nayax Stock Up 2.3%

Shares of NASDAQ NYAX traded up $1.51 during mid-day trading on Friday, reaching $67.84. The company had a trading volume of 8,120 shares, compared to its average volume of 17,321. The stock has a fifty day moving average of $66.30 and a two-hundred day moving average of $57.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.88 and a current ratio of 0.99. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 85.87 and a beta of 0.41. Nayax has a 12-month low of $39.17 and a 12-month high of $76.86.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The business had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. As a group, equities research analysts expect that Nayax will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

NYAX has been the subject of several research reports. UBS Group raised their price objective on shares of Nayax from $55.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods raised their price objective on shares of Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Oppenheimer upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a research report on Wednesday, May 27th. Finally, Zacks Research cut shares of Nayax from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.20.

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.