Nayax Ltd. (NASDAQ:NYAX) Sees Significant Growth in Short Interest

Key Points

• Short interest rose 19.6% to 17,790 shares as of March 31, yielding a short-interest ratio of about 1.0 days based on average daily volume (reported short interest is shown as 0.0% of shares, likely due to rounding).
• Analyst views are mixed—three Buys, three Holds and one Sell—with an average rating of “Hold” and a consensus target price of $51.67; Keefe, Bruyette & Woods recently raised its target to $60 and William Blair reiterated an Outperform.
• Nayax beat quarterly EPS estimates ($0.35 vs. $0.24) while revenue was roughly in line, and the stock trades near its 12‑month high around $65 with a market cap of about $2.39 billion and a P/E of ~68.7.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 17,790 shares, a growth of 19.6% from the March 15th total of 14,877 shares. Based on an average daily trading volume, of 18,027 shares, the short-interest ratio is presently 1.0 days. Currently, 0.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in shares of Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock worth $30,000 after buying an additional 400 shares during the period. Osaic Holdings Inc. purchased a new position in shares of Nayax during the second quarter worth $33,000. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after buying an additional 1,353 shares during the period. Smartleaf Asset Management LLC purchased a new position in shares of Nayax during the fourth quarter worth $69,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Nayax during the third quarter worth $128,000. Institutional investors and hedge funds own 34.87% of the company's stock.

Nayax Price Performance

NYAX stock traded up $0.34 during mid-day trading on Friday, reaching $65.26. 2,211 shares of the company's stock were exchanged, compared to its average volume of 6,680. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 68.70 and a beta of 0.10. The stock's 50 day moving average is $57.36 and its 200 day moving average is $51.55. Nayax has a 12-month low of $37.00 and a 12-month high of $65.70. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.26 and a quick ratio of 2.16.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Monday, March 9th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. Nayax had a return on equity of 11.60% and a net margin of 8.87%.The business had revenue of $119.45 million for the quarter, compared to the consensus estimate of $120.13 million. On average, research analysts expect that Nayax will post -0.16 EPS for the current year.

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.

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