Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $33.08, but opened at $34.20. Nayax shares last traded at $35.01, with a volume of 8,488 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer initiated coverage on shares of Nayax in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their price target on Nayax from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. Jefferies Financial Group raised Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. B. Riley initiated coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target for the company. Finally, Barclays increased their price objective on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Trading Up 5.7 %

The company’s 50-day moving average is $30.36 and its 200 day moving average is $26.94. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Nayax (NASDAQ:NYAX) last posted its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The firm had revenue of $83.01 million for the quarter, compared to analysts’ expectations of $88.40 million. During the same period last year, the firm earned ($0.09) EPS. Research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Nayax

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Nayax by 5,526.8% in the third quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after purchasing an additional 2,266 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Nayax in the 3rd quarter valued at about $69,000. ARK Investment Management LLC boosted its holdings in Nayax by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock worth $2,261,000 after buying an additional 1,445 shares during the last quarter. Azora Capital LP increased its stake in Nayax by 4.9% during the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after buying an additional 4,724 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Nayax by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after acquiring an additional 115,262 shares during the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

About Nayax

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.