Nayax Ltd. (NASDAQ:NYAX) Short Interest Down 36.2% in August

Key Points

• Nayax Ltd. experienced a 36.2% decrease in short interest for August, with a total of 24,000 shares sold short as of August 31st.
• The company announced its quarterly earnings, reporting an EPS of $0.16, which exceeded expectations, although revenue was slightly below analyst estimates at $95.59 million.
• Recent analyst reports have led to mixed ratings, with target prices adjusted to between $42.00 and $50.00, and a consensus rating of "Hold."

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 24,000 shares, a drop of 36.2% from the August 15th total of 37,600 shares. Approximately 0.2% of the company's shares are sold short. Based on an average daily trading volume, of 14,100 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 14,100 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.2% of the company's shares are sold short.

Nayax Stock Performance

Shares of Nayax stock opened at $50.75 on Monday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 89.04 and a beta of 0.23. Nayax has a 52 week low of $23.52 and a 52 week high of $52.46. The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.77. The firm's 50 day moving average is $46.06 and its two-hundred day moving average is $42.43.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The company had revenue of $95.59 million for the quarter, compared to analyst estimates of $99.16 million. Nayax had a net margin of 6.06% and a return on equity of 5.32%. Nayax has set its FY 2025 guidance at EPS. Research analysts forecast that Nayax will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. grew 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 acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. purchased a new position in shares of Nayax during the second quarter worth approximately $33,000. Bank of America Corp DE grew 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 acquiring an additional 1,353 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Nayax during the fourth quarter worth approximately $217,000. Finally, Ascent Group LLC purchased a new position in shares of Nayax during the second quarter worth approximately $220,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NYAX has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Nayax from $40.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. UBS Group increased their target price on shares of Nayax from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Nayax from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $42.00.

About Nayax

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.

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