Nayax (NASDAQ:NYAX) Shares Gap Down - Here's Why

Nayax Ltd. (NASDAQ:NYAX) experienced a significant drop in share price as it gapped down upon the market opening on Wednesday. The stock previously closed at $34.68, opening at $33.62 and fluctuating to last trade at $34.79, accompanied by a trading volume of 301 shares.

Recent Analyst Ratings

Nayax has recently attracted attention from analysts who have issued various ratings on the stock. B. Riley maintained a "buy" rating and raised its target price from $42.00 to $44.00 as of March 5th. Meanwhile, Keefe, Bruyette & Woods upgraded their target price from $33.00 to $38.00, also assigning a "market perform" rating on March 6th. Currently, four analysts suggest a hold rating, while two recommend buying the stock. As per MarketBeat.com, Nayax has an average rating of "Hold" with an average price target of $34.75.

Stock Performance Overview

The performance metrics of Nayax are notable, with a 50-day moving average price of $36.90 and a 200-day moving average price of $31.00. The company reports a debt-to-equity ratio of 0.11, a current ratio of 1.25, and a quick ratio of 1.16. Nayax's market capitalization stands at $1.20 billion, alongside a PE ratio of -109.51 and a beta of 0.08.

Investor Activity

In recent months, several institutional investors have adjusted their holdings in Nayax. Y.D. More Investments Ltd reported a 42.7% increase in its holdings during the 4th quarter, now owning 1,183,988 shares valued at $34,630,000 after acquiring 354,350 additional shares. Swedbank AB also increased its stake by 107.6% in the third quarter, obtaining 207,559 shares worth $5,233,000. Other notable investments include JPMorgan Chase & Co. and Jane Street Group LLC, who both acquired stakes in Nayax during the 4th quarter, valued at $1,581,000 and $351,000, respectively. Overall, 34.87% of Nayax shares are held by institutional investors.

About Nayax Limited

Nayax Ltd. is a fintech company that provides a comprehensive system and payment platform for various retailers across the United States and other regions including Europe, the UK, Australia, and Israel. Their offerings include AMIT 3.0, Nayax Core, MoMa, and a suite of cloud-based management and engagement solutions aimed at enhancing consumer interactions with unattended machines and retail platforms.

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