Nayax (NASDAQ:NYAX) Shares Gap Up to $24.05

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $24.05, but opened at $25.00. Nayax shares last traded at $25.00, with a volume of 194 shares trading hands.

Wall Street Analysts Forecast Growth

NYAX has been the subject of several analyst reports. Barclays dropped their target price on Nayax from $27.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Keefe, Bruyette & Woods reduced their target price on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th.

Nayax Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. The company’s 50-day moving average price is $23.33 and its 200-day moving average price is $24.72.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $78.09 million for the quarter, compared to analyst estimates of $78.10 million. Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. During the same period last year, the firm earned ($0.12) EPS. As a group, sell-side analysts forecast that Nayax Ltd. will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd acquired a new position in Nayax during the second quarter valued at $14,790,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Nayax in the 1st quarter valued at $9,170,000. Swedbank AB bought a new position in shares of Nayax in the 1st quarter worth $2,620,000. Allspring Global Investments Holdings LLC bought a new position in shares of Nayax in the 2nd quarter worth $1,673,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Nayax by 152.9% during the first quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock worth $1,655,000 after acquiring an additional 37,853 shares in the last quarter. 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.