Nayax (NASDAQ:NYAX) Shares Gap Down – Time to Sell?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $72.00, but opened at $68.65. Nayax shares last traded at $69.1540, with a volume of 8,012 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NYAX shares. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. William Blair reiterated an “outperform” rating on shares of Nayax in a research report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nayax in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Nayax from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.67.

Nayax Trading Down 3.6%

The stock has a 50-day moving average price of $60.21 and a two-hundred day moving average price of $53.31. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.16 and a current ratio of 2.26. The stock has a market capitalization of $2.54 billion, a P/E ratio of 73.05 and a beta of 0.39.

Nayax (NASDAQ:NYAX) last posted its earnings results on Monday, March 9th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Nayax had a net margin of 8.87% and a return on equity of 11.60%. The firm had revenue of $119.45 million during the quarter, compared to analysts’ expectations of $120.13 million. On average, research analysts forecast that Nayax Ltd. will post 0.84 EPS for the current fiscal year.

Insider Activity at Nayax

In related news, insider Aaron Samuel Greenberg sold 1,002 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $64,067.88. Following the sale, the insider owned 25,753 shares in the company, valued at $1,646,646.82. This represents a 3.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $112,150.76. Following the completion of the sale, the chief financial officer owned 47,523 shares in the company, valued at $3,038,620.62. The trade was a 3.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,032 shares of company stock worth $195,657 over the last 90 days.

Institutional Investors Weigh In On Nayax

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares during the period. Geode Capital Management LLC lifted its holdings in Nayax by 19.7% in the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock valued at $1,685,000 after acquiring an additional 5,523 shares during the period. Legal & General Group Plc increased its holdings in Nayax by 18.6% during the second quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock valued at $711,000 after buying an additional 2,214 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.