Nayax (NASDAQ:NYAX) Shares Gap Up to $23.00

Nayax Ltd. (NASDAQ:NYAX) shares gapped up prior to trading on Friday . The stock had previously closed at $23.00, but opened at $24.33. Nayax shares last traded at $25.11, with a volume of 612 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on NYAX shares. Barclays lowered their price objective on shares of Nayax from $27.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Keefe, Bruyette & Woods decreased their target price 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.

Nayax Stock Performance

The company has a 50-day moving average of $22.80 and a 200-day moving average of $24.88. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26.

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

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd purchased a new position in shares of Nayax in the 2nd quarter worth approximately $14,790,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Nayax during the first quarter worth $9,170,000. Swedbank AB bought a new position in Nayax in the 1st quarter valued at $2,620,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nayax during the 2nd quarter valued at $1,673,000. Finally, Baillie Gifford & Co. bought a new stake in shares of Nayax during the 1st quarter worth $1,302,000. 34.87% of the stock is owned by institutional investors.

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.