Nayax (NASDAQ:NYAX) Shares Gap Down – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Tuesday . The stock had previously closed at $29.09, but opened at $25.91. Nayax shares last traded at $25.95, with a volume of 3,292 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NYAX shares. Oppenheimer started coverage on shares of Nayax in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Barclays lifted their price target on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods dropped their price target on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.33.

Nayax Trading Down 10.6 %

The business’s 50 day simple moving average is $26.11 and its two-hundred day simple moving average is $24.79. The stock has a market cap of $922.67 million, a P/E ratio of -68.52 and a beta of -0.08. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.26.

Institutional Trading of Nayax

Several institutional investors have recently modified their holdings of NYAX. Y.D. More Investments Ltd bought a new stake in shares of Nayax in the second quarter worth $14,790,000. Assenagon Asset Management S.A. grew its stake in shares of Nayax by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after purchasing an additional 115,262 shares during the last quarter. Swedbank AB grew its stake in shares of Nayax by 107.6% in the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Nayax in the second quarter worth $1,673,000. Finally, Altshuler Shaham Ltd bought a new stake in shares of Nayax in the second quarter worth $1,010,000. 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.