Nayax (NASDAQ:NYAX) Shares Gap Down - Should You Sell?

Key Points

• Nayax shares fell 1.8%, opening at $42.53 versus the prior close of $44.17, and last traded near $43.65.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating, with an average price target of $75.76 versus its recent trading price. Four analysts rate it Buy, three Hold, and one Sell.
• Nayax exceeded quarterly expectations, reporting $0.14 EPS and $122.59 million in revenue, but insiders have sold 4,713 shares worth about $273,324 over the past 90 days.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $44.17, but opened at $42.53. Nayax shares last traded at $43.6520, with a volume of 6,836 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 1st. Oppenheimer raised Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price target for the company in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods raised Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 price target on the stock in a report on Friday, August 14th. Barclays reduced their price objective on shares of Nayax from $75.00 to $68.00 and set an "equal weight" rating for the company in a report on Tuesday, August 11th. Finally, UBS Group reiterated a "neutral" rating and issued a $70.00 target price on shares of Nayax in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $75.76.

Nayax Trading Down 1.8%

The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The firm's 50-day simple moving average is $56.37 and its 200 day simple moving average is $61.51. The stock has a market capitalization of $1.59 billion, a P/E ratio of 206.52 and a beta of 0.43.

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

Insider Buying and Selling at Nayax

In related news, insider Eden Zafrani sold 500 shares of Nayax stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $64.89, for a total value of $32,445.00. Following the transaction, the insider directly owned 14,869 shares in the company, valued at $964,849.41. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gal Omer sold 1,500 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $45.17, for a total value of $67,755.00. Following the sale, the insider directly owned 18,539 shares of the company's stock, valued at approximately $837,406.63. This represents a 7.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 4,713 shares of company stock valued at $273,324.

Institutional Trading of Nayax

Hedge funds have recently bought and sold shares of the company. AltraVue Capital LLC purchased a new stake in shares of Nayax during the fourth quarter worth $11,623,000. Assenagon Asset Management S.A. raised its position in shares of Nayax by 36.4% in the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company's stock valued at $15,195,000 after purchasing an additional 72,357 shares during the period. UBS Group AG lifted its position in Nayax by 12,665.1% during the 4th quarter. UBS Group AG now owns 57,443 shares of the company's stock worth $2,907,000 after acquiring an additional 56,993 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock valued at $48,387,000 after purchasing an additional 25,694 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in shares of Nayax in the fourth quarter worth $1,072,000. 34.87% of the stock is owned by hedge funds and other institutional investors.

Nayax Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.