Nayax (NASDAQ:NYAX) Shares Gap Down Following Weak Earnings

Nayax Ltd. (NASDAQ:NYAX) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $40.66, but opened at $38.84. Nayax shares last traded at $39.40, with a volume of 7,932 shares.

The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NYAX shares. B. Riley reissued a “buy” rating and issued a $44.00 target price (up from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price target on shares of Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, March 6th. Finally, William Blair raised shares of Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Hedge Funds Weigh In On Nayax

Several hedge funds have recently added to or reduced their stakes in NYAX. Bank of America Corp DE increased its stake in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares during the last quarter. Barclays PLC boosted its stake in Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after acquiring an additional 2,266 shares during the last quarter. Citadel Advisors LLC acquired a new position in Nayax during the fourth quarter valued at approximately $217,000. Verdence Capital Advisors LLC bought a new stake in Nayax in the fourth quarter valued at approximately $326,000. Finally, Jane Street Group LLC acquired a new stake in Nayax in the fourth quarter worth $351,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Trading Down 2.2%

The company has a market capitalization of $1.41 billion, a P/E ratio of -128.19 and a beta of 0.13. 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 business’s 50-day moving average price is $37.30 and its two-hundred day moving average price is $34.09.

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.