Nayax (NASDAQ:NYAX) Shares Gap Down to $21.80

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $21.80, but opened at $20.76. Nayax shares last traded at $20.62, with a volume of 7,720 shares trading hands.

Wall Street Analysts Forecast Growth

NYAX has been the topic of a number of research reports. UBS Group started coverage on shares of Nayax in a report on Monday, April 29th. They issued a “neutral” rating and a $29.00 price target on the stock. Keefe, Bruyette & Woods initiated coverage on Nayax in a research note on Monday, June 17th. They issued a “market perform” rating and a $27.00 target price on the stock. Finally, Barclays initiated coverage on Nayax in a research note on Wednesday, May 22nd. They set an “equal weight” rating and a $27.00 price target for the company.

Nayax Stock Performance

The stock’s 50 day moving average is $25.04 and its 200 day moving average is $24.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.27 and a current ratio of 1.36.

Nayax (NASDAQ:NYAX) last posted its earnings results on Wednesday, May 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.13). The company had revenue of $63.96 million for the quarter, compared to analysts’ expectations of $70.93 million. Nayax had a negative return on equity of 13.46% and a negative net margin of 6.20%. As a group, research analysts forecast that Nayax Ltd. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NYAX. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Nayax in the first quarter valued at approximately $9,170,000. Swedbank AB bought a new position in Nayax in the 1st quarter valued at $2,620,000. Assenagon Asset Management S.A. grew its position in shares of Nayax by 152.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock valued at $1,655,000 after purchasing an additional 37,853 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Nayax in the first quarter worth $1,302,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Nayax in the first quarter worth $102,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

About Nayax

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.