ARK Investment Management LLC Purchases New Holdings in Nayax Ltd. (NASDAQ:NYAX)

Key Points

• ARK Investment Management LLC has invested approximately $1.91 million in Nayax Ltd., acquiring 56,509 shares, which constitutes around 0.16% of the company.
• Other institutional investors have also increased their stakes, with Bank of America Corp raising its holdings by 920.4% in the last quarter.
• Nayax reported lower than expected quarterly earnings of $0.03 per share, missing the consensus estimate of $0.04, with a revenue of $81.11 million against an expected $85.08 million.

ARK Investment Management LLC bought a new position in shares of Nayax Ltd. (NASDAQ:NYAX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 56,509 shares of the company's stock, valued at approximately $1,906,000. ARK Investment Management LLC owned approximately 0.16% of Nayax as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bank of America Corp DE grew its stake in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after acquiring an additional 1,353 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Nayax in the 4th quarter valued at about $217,000. Jane Street Group LLC purchased a new stake in shares of Nayax in the 4th quarter valued at about $351,000. Hood River Capital Management LLC raised its holdings in shares of Nayax by 144.6% during the 4th quarter. Hood River Capital Management LLC now owns 14,118 shares of the company's stock valued at $412,000 after buying an additional 8,346 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Nayax by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 27,976 shares of the company's stock worth $828,000 after purchasing an additional 650 shares during the period. 34.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NYAX. B. Riley restated a "buy" rating and set a $47.00 price target (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. William Blair raised Nayax from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 1st. Wall Street Zen downgraded Nayax from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. Keefe, Bruyette & Woods increased their target price on Nayax from $40.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Nayax Stock Performance

NASDAQ NYAX traded down $0.10 during trading hours on Wednesday, hitting $45.00. The company had a trading volume of 2,040 shares, compared to its average volume of 11,068. Nayax Ltd. has a 1-year low of $20.31 and a 1-year high of $52.46. The company has a market cap of $1.60 billion, a PE ratio of 249.99 and a beta of 0.24. The business has a 50 day moving average of $45.53 and a 200-day moving average of $40.31. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.67 and a current ratio of 1.76.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Nayax had a net margin of 1.96% and a return on equity of 0.23%. The firm had revenue of $81.11 million during the quarter, compared to analyst estimates of $85.08 million. As a group, equities research analysts expect that Nayax Ltd. will post -0.16 EPS for the current year.

Nayax 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.