Nayax Ltd. (NASDAQ:NYAX) Short Interest Update

Key Points

• Short interest more than doubled: Nayax’s short interest rose 124% to 66,830 shares as of August 31, representing 0.2% of shares outstanding and a 2.4-day days-to-cover ratio.
• Analyst sentiment remains mixed: The stock has a consensus “Hold” rating and an average price target of $75.76, despite Oppenheimer upgrading it to “Outperform” and Barclays cutting its target to $68.
• Shares declined while earnings beat estimates: NYAX fell 2.9% to $45.84, well below its 50-day and 200-day moving averages, although quarterly EPS of $0.14 and revenue of $122.59 million exceeded analyst expectations.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 66,830 shares, a growth of 124.0% from the August 15th total of 29,841 shares. Based on an average daily volume of 28,201 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NYAX shares. Barclays decreased their target price on shares of Nayax from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 1st. UBS Group restated a "neutral" rating and set a $70.00 price objective on shares of Nayax in a report on Tuesday, August 11th. Finally, Oppenheimer raised Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price objective for the company in a research report on Wednesday, May 27th. Four 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, Nayax currently has a consensus rating of "Hold" and an average target price of $75.76.

Nayax Trading Down 2.9%

Shares of NYAX traded down $1.36 during trading hours on Monday, hitting $45.84. The stock had a trading volume of 20,447 shares, compared to its average volume of 20,036. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. The firm has a market cap of $1.68 billion, a P/E ratio of 218.29 and a beta of 0.43. The company's fifty day simple moving average is $59.03 and its 200 day simple moving average is $61.85. Nayax has a 12-month low of $39.17 and a 12-month high of $76.86.

Nayax (NASDAQ:NYAX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $122.59 million for the quarter, compared to analysts' expectations of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. Equities research analysts forecast that Nayax will post 0.75 EPS for the current fiscal year.

Insider Transactions at Nayax

In other news, CFO Sagit Manor sold 1,252 shares of Nayax stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the sale, the chief financial officer directly owned 45,238 shares in the company, valued at $3,019,184.12. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eden Zafrani sold 500 shares of Nayax stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $64.89, for a total transaction of $32,445.00. Following the sale, the insider owned 14,869 shares of the company's stock, valued at approximately $964,849.41. This trade represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,213 shares of company stock worth $205,569.

Institutional Trading of Nayax

A number of institutional investors have recently modified their holdings of NYAX. Bank of America Corp DE raised its holdings 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 buying an additional 1,353 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock worth $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Nayax by 19.7% in the second quarter. Geode Capital Management LLC now owns 33,511 shares of the company's stock worth $1,685,000 after acquiring an additional 5,523 shares in the last quarter. Legal & General Group Plc increased its position in shares of Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock worth $711,000 after acquiring an additional 2,214 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Nayax by 210.5% in 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 period. Hedge funds and other institutional investors own 34.87% of the company's stock.

About Nayax

Nayax Ltd. NASDAQ: NYAX is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company's products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.

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