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

Shares of Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Thursday . The stock had previously closed at $36.13, but opened at $35.21. Nayax shares last traded at $35.37, with a volume of 197 shares trading hands.

Analysts Set New Price Targets

A number of research firms have commented on NYAX. B. Riley reiterated a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Nayax in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Nayax presently has a consensus rating of “Hold” and a consensus price target of $34.75.

Nayax Stock Performance

The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -114.09 and a beta of 0.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The firm has a 50 day moving average price of $36.50 and a 200-day moving average price of $30.19.

Hedge Funds Weigh In On Nayax

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd lifted its stake in Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock worth $34,630,000 after acquiring an additional 354,350 shares during the last quarter. Swedbank AB raised its holdings in shares of Nayax by 107.6% in the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after purchasing an additional 107,559 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Nayax during the 4th quarter worth $1,581,000. Jane Street Group LLC acquired a new position in shares of Nayax during the fourth quarter worth $351,000. Finally, Verdence Capital Advisors LLC purchased a new position in Nayax in the fourth quarter valued at $326,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.