Nayax (NASDAQ:NYAX) Shares Down 7.9% on Disappointing Earnings

Nayax Ltd. (NASDAQ:NYAX) shares were down 7.9% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $65.99 and last traded at $65.7190. Approximately 7,246 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 16,972 shares. The stock had previously closed at $71.39.

The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). Nayax had a net margin of 8.87% and a return on equity of 11.60%. The company had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NYAX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a research report on Thursday, January 22nd. UBS Group reissued a “neutral” rating and issued a $68.00 price target on shares of Nayax in a report on Wednesday. Keefe, Bruyette & Woods increased their target price on shares of Nayax from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, March 10th. William Blair restated an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Finally, Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nayax currently has a consensus rating of “Hold” and an average price target of $58.33.

Insider Transactions at Nayax

In other news, insider Aaron Samuel Greenberg sold 1,002 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $64,067.88. Following the sale, the insider directly owned 25,753 shares in the company, valued at $1,646,646.82. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sagit Manor sold 1,754 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total transaction of $112,150.76. Following the completion of the sale, the chief financial officer directly owned 47,523 shares in the company, valued at approximately $3,038,620.62. The trade was a 3.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 3,032 shares of company stock worth $195,657 in the last three months.

Institutional Trading of Nayax

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Y.D. More Investments Ltd lifted its stake in Nayax by 3.1% in the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after purchasing an additional 25,694 shares in the last quarter. Vanguard Group Inc. grew its position in Nayax by 4,022.5% during the third quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock worth $26,210,000 after buying an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Nayax by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock worth $9,966,000 after buying an additional 89,886 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Nayax by 36.4% during the first 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 in the last quarter. Finally, AltraVue Capital LLC purchased a new position in shares of Nayax during the 4th quarter valued at about $11,623,000. Institutional investors own 34.87% of the company’s stock.

Nayax Trading Down 8.0%

The company has a current ratio of 2.26, a quick ratio of 2.16 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average of $61.38 and a two-hundred day moving average of $53.83. The company has a market capitalization of $2.40 billion, a PE ratio of 69.15 and a beta of 0.39.

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.