Nayax Ltd. (NASDAQ:NYAX) Stock Short Interest Jumps 90.9%

Nayax Ltd. (NASDAQ:NYAX) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 116,456 shares, a growth of 90.9% from the September 15th total of 61,002 shares. Based on an average daily trading volume, of 28,209 shares, the days-to-cover ratio is presently 4.1 days. Currently, 0.3% of the company’s shares are sold short.

Insider Buying and Selling at Nayax

In related news, CEO Yair Nechmad purchased 104,511 shares of the company’s stock in a transaction on Thursday, September 24th. The stock was acquired at an average cost of $44.09 per share, for a total transaction of $4,607,889.99. Following the completion of the transaction, the chief executive officer directly owned 7,433,558 shares in the company, valued at approximately $327,745,572.22. The trade was a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gal Omer sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $45.17, for a total transaction of $67,755.00. Following the completion of the sale, the insider directly owned 18,539 shares in the company, valued at $837,406.63. This trade represents a 7.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 198,962 shares of company stock valued at $8,972,432 and have sold 3,161 shares valued at $152,241.

Hedge Funds Weigh In On Nayax

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in shares of Nayax by 36.4% in the first quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after acquiring an additional 72,357 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock valued at $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Altshuler Shaham Ltd raised its stake in shares of Nayax by 140.0% in the fourth quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock valued at $1,742,000 after acquiring an additional 20,121 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Nayax in the second quarter valued at $650,000. Finally, Bank of America Corp DE boosted its holdings in Nayax by 1,607.2% in the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after purchasing an additional 8,727 shares during the period. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NYAX. Keefe, Bruyette & Woods raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, August 14th. Barclays decreased their price target on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Jefferies Financial Group started coverage on Nayax in a research note on Wednesday, October 7th. They issued a “buy” rating and a $68.30 price objective for the company. Finally, UBS Group reiterated a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.46.

Nayax Stock Up 2.1%

Shares of NYAX traded up $0.91 during mid-day trading on Wednesday, hitting $44.71. 12,050 shares of the company’s stock were exchanged, compared to its average volume of 21,006. The stock’s 50-day moving average is $49.52 and its 200-day moving average is $60.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. Nayax has a fifty-two week low of $39.17 and a fifty-two week high of $76.86. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 212.90 and a beta of 0.46.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $116.75 million. Nayax had a net margin of 1.74% and a return on equity of 10.45%. On average, sell-side analysts anticipate that Nayax will post 0.75 earnings per share for the current fiscal year.

Nayax Company Profile

Nayax Ltd. is a global financial technology company that provides payment acceptance, management, and loyalty solutions for unattended and automated commerce. Its platform enables businesses to accept cashless payments through card readers, mobile wallets, and other digital payment methods while managing transactions and customer interactions through cloud-based software.

The company serves industries including vending, electric vehicle charging, parking, laundromats, kiosks, fuel stations, and other automated retail environments.