Nayax (NASDAQ:NYAX) Shares Gap Down – Should You Sell?

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $34.68, but opened at $33.62. Nayax shares last traded at $34.79, with a volume of 301 shares changing hands.

Analyst Upgrades and Downgrades

NYAX has been the subject of several research reports. B. Riley reaffirmed a “buy” rating and issued a $44.00 price target (up previously from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their target price on Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.75.

Nayax Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The stock has a market cap of $1.23 billion, a PE ratio of -112.22 and a beta of 0.08. The firm has a fifty day moving average price of $36.90 and a 200 day moving average price of $30.95.

Institutional Investors Weigh In On Nayax

Several institutional investors have recently added to or reduced their stakes in NYAX. Bank of America Corp DE raised its position in shares of 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 last quarter. Barclays PLC increased its stake in Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after purchasing an additional 2,266 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax in the third quarter worth $69,000. Citadel Advisors LLC acquired a new stake in shares of Nayax during the fourth quarter worth $217,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Nayax during the fourth quarter valued at $326,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.