Nayax (NASDAQ:NYAX) Trading Down 3.6%

Nayax Ltd. (NASDAQ:NYAX)’s stock price dropped 3.6% on Tuesday . The stock traded as low as $22.61 and last traded at $22.70. Approximately 1,769 shares changed hands during trading, a decline of 79% from the average daily volume of 8,388 shares. The stock had previously closed at $23.55.

Analysts Set New Price Targets

NYAX has been the subject of several research reports. UBS Group initiated coverage on Nayax in a report on Monday, April 29th. They set a “neutral” rating and a $29.00 price target for the company. Keefe, Bruyette & Woods initiated coverage on Nayax in a report on Monday. They set a “market perform” rating and a $27.00 price target for the company. Finally, Barclays assumed coverage on Nayax in a report on Wednesday, May 22nd. They set an “equal weight” rating and a $27.00 price target for the company.

Nayax Price Performance

The stock has a market capitalization of $763.76 million, a price-to-earnings ratio of -51.19 and a beta of 0.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.27 and a current ratio of 1.36. The company has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $24.29.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). The business had revenue of $63.96 million for the quarter, compared to analyst estimates of $70.93 million. Nayax had a negative return on equity of 13.46% and a negative net margin of 6.20%. As a group, equities research analysts expect that Nayax Ltd. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently made changes to their positions in the stock. Hood River Capital Management LLC bought a new stake in shares of Nayax in the 1st quarter valued at about $102,000. Assenagon Asset Management S.A. grew its position in shares of Nayax by 152.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock valued at $1,655,000 after buying an additional 37,853 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of Nayax in the 1st quarter valued at about $1,302,000. Swedbank AB bought a new stake in shares of Nayax in the 1st quarter valued at about $2,620,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Nayax in the 1st quarter valued at about $9,170,000. Institutional investors own 34.87% of the company’s stock.

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.