Nayax (NASDAQ:NYAX) Shares Gap Up – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) gapped up before the market opened on Wednesday. The stock had previously closed at $43.80, but opened at $45.31. Nayax shares last traded at $45.0310, with a volume of 1,285 shares changing hands.

Analyst Upgrades and Downgrades

NYAX has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Barclays cut their price target on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Jefferies Financial Group began coverage on shares of Nayax in a research report on Wednesday, October 7th. They issued a “buy” rating and a $68.30 price target on the stock. Keefe, Bruyette & Woods raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Friday, August 14th. Finally, UBS Group reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.46.

Nayax Stock Up 0.2%

The firm has a 50 day moving average price of $48.61 and a 200-day moving average price of $59.96. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 72.11 and a beta of 0.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $122.59 million during the quarter, compared to analyst estimates of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. As a group, equities analysts predict that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity

In other Nayax news, insider David Ben-Avi bought 1,554 shares of Nayax stock in a transaction dated Tuesday, September 22nd. The shares were bought at an average price of $43.18 per share, with a total value of $67,101.72. Following the purchase, the insider owned 6,591,702 shares of the company’s stock, valued at $284,629,692.36. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Yair Nechmad purchased 104,511 shares of the stock in a transaction dated Thursday, September 24th. The shares were acquired at an average price of $44.09 per share, with a total value of $4,607,889.99. Following the transaction, the chief executive officer owned 7,433,558 shares in the company, valued at $327,745,572.22. This trade represents a 1.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 198,962 shares of company stock valued at $8,972,432 and have sold 3,161 shares valued at $152,241.

Hedge Funds Weigh In On Nayax

A number of hedge funds and other institutional investors have recently bought and sold shares of NYAX. Public Employees Retirement System of Ohio acquired a new stake in Nayax during the 2nd quarter worth $239,000. Bank of America Corp DE lifted its stake in shares of Nayax by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after purchasing an additional 8,727 shares during the period. Tidal Investments LLC acquired a new position in shares of Nayax in the 2nd quarter valued at $650,000. Altshuler Shaham Ltd lifted its stake in shares of Nayax by 140.0% in the 4th quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after purchasing an additional 20,121 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Nayax by 36.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after purchasing an additional 72,357 shares during the last quarter. 34.87% of the stock is owned by institutional investors.

About Nayax

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.