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

Key Points

• Nayax shares fell sharply at the open, dropping from a prior close of $48.29 to $45.66, below both the 50-day and 200-day moving averages.
• Analysts remain generally positive, with a “Moderate Buy” consensus and an average price target of $73.46, despite Barclays lowering its target to $68.00.
• The company exceeded quarterly expectations, reporting $0.14 in EPS versus $0.09 expected and revenue of $122.59 million versus $116.75 million; insider activity was also broadly supportive, led by a large CEO purchase.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s share price gapped down before the market opened on Thursday. The stock had previously closed at $48.29, but opened at $45.66. Nayax shares last traded at $45.9750, with a volume of 1,527 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NYAX. Barclays dropped their target price on shares of Nayax from $75.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 11th. Zacks Research raised shares of Nayax from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 1st. Jefferies Financial Group began coverage on shares of Nayax in a research report on Wednesday. They set a "buy" rating and a $68.30 price objective for the company. UBS Group restated a "neutral" rating and set a $70.00 target price on shares of Nayax in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods upgraded Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 price target on the stock in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nayax has an average rating of "Moderate Buy" and an average price target of $73.46.

Nayax Price Performance

The business's 50-day simple moving average is $51.39 and its two-hundred day simple moving average is $60.46. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 217.43 and a beta of 0.46. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $116.75 million. Research analysts expect that Nayax Ltd. will post 0.75 earnings per share for the current year.

Insider Activity

In other news, insider Gal Omer sold 1,500 shares of the business's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $45.17, for a total transaction of $67,755.00. Following the sale, the insider directly owned 18,539 shares in the company, valued at approximately $837,406.63. The trade was a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yair Nechmad acquired 44,148 shares of the stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average cost of $47.84 per share, with a total value of $2,112,040.32. Following the purchase, the chief executive officer directly owned 7,524,641 shares of the company's stock, valued at $359,978,825.44. This trade represents a 0.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 198,962 shares of company stock valued at $8,972,432 and have sold 3,161 shares valued at $152,241.

Hedge Funds Weigh In On Nayax

Several large investors have recently modified their holdings of NYAX. Y.D. More Investments Ltd grew its stake in shares of Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock worth $48,387,000 after purchasing an additional 25,694 shares during the last quarter. Altshuler Shaham Ltd raised its position in Nayax by 140.0% during the 4th quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company's stock worth $1,742,000 after purchasing an additional 20,121 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company's stock worth $15,195,000 after buying an additional 72,357 shares during the period. Tidal Investments LLC acquired a new position in Nayax during the 2nd quarter worth about $650,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Nayax in the 2nd quarter valued at about $239,000. Institutional investors own 34.87% of the company's stock.

Nayax Company Profile

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.

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