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

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up before the market opened on Monday . The stock had previously closed at $33.08, but opened at $34.20. Nayax shares last traded at $35.01, with a volume of 8,488 shares.

Analyst Ratings Changes

NYAX has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Oppenheimer began coverage on Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. B. Riley initiated coverage on Nayax in a report on Tuesday, November 19th. They set a “buy” rating and a $38.00 target price on the stock. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Stock Performance

The firm has a market cap of $1.24 billion, a P/E ratio of -112.74 and a beta of -0.03. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $30.11 and a 200-day moving average of $26.77.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $88.40 million. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. During the same quarter in the previous year, the company posted ($0.09) EPS. Research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB grew its position in shares of Nayax by 44.5% in the 4th quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after acquiring an additional 92,441 shares during the period. Assenagon Asset Management S.A. grew its holdings in Nayax by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after purchasing an additional 115,262 shares during the period. Azora Capital LP grew its holdings in Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after purchasing an additional 4,724 shares during the period. ARK Investment Management LLC raised its stake in Nayax by 1.7% in the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after buying an additional 1,445 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Nayax in the third quarter valued at approximately $69,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.