Nayax (NASDAQ:NYAX) Shares Gap Down – What’s Next?

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $56.25, but opened at $53.25. Nayax shares last traded at $54.8970, with a volume of 16,993 shares trading hands.

Analyst Ratings Changes

NYAX has been the topic of several analyst reports. Zacks Research raised Nayax from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Friday, January 2nd. Wall Street Zen downgraded shares of Nayax from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, UBS Group raised their price objective on shares of Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, November 21st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Stock Performance

The company has a quick ratio of 1.62, a current ratio of 1.71 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.04 billion, a P/E ratio of 86.90 and a beta of 0.19. The business has a fifty day moving average price of $55.47 and a 200-day moving average price of $49.40.

Hedge Funds Weigh In On Nayax

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new position in shares of Nayax during the second quarter valued at approximately $33,000. Bank of America Corp DE lifted its position in Nayax by 254.9% during the third quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 956 shares during the period. Smartleaf Asset Management LLC bought a new position in Nayax during the fourth quarter valued at approximately $69,000. Finally, Alliancebernstein L.P. purchased a new stake in Nayax in the third quarter worth approximately $128,000. Institutional investors own 34.87% of the company’s stock.

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.