Nayax (NASDAQ:NYAX) Trading Down 4% - Here's What Happened

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) traded down 4% during mid-day trading on Thursday . The stock traded as low as $45.21 and last traded at $44.09. 1,336 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 8,861 shares. The stock had previously closed at $45.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NYAX shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods increased their price objective on Nayax from $38.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, May 14th. Wall Street Zen downgraded Nayax from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. B. Riley reiterated a "buy" rating and issued a $47.00 price target (up previously from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Finally, William Blair upgraded Nayax from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Nayax currently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Nayax Price Performance

The firm has a market cap of $1.60 billion, a P/E ratio of -145.48 and a beta of 0.13. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The business's 50 day moving average is $39.95 and its two-hundred day moving average is $35.73.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $81.11 million during the quarter, compared to the consensus estimate of $85.08 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. As a group, analysts anticipate that Nayax Ltd. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in shares of Nayax by 920.4% in the 4th 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 in the last quarter. Citadel Advisors LLC acquired a new stake in Nayax in the fourth quarter worth $217,000. Verdence Capital Advisors LLC acquired a new stake in Nayax in the fourth quarter worth $326,000. Bosun Asset Management LLC bought a new stake in Nayax in the first quarter valued at $332,000. Finally, Jane Street Group LLC acquired a new position in shares of Nayax during the fourth quarter valued at about $351,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company 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.