Nayax (NASDAQ:NYAX) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Nayax Ltd. (NASDAQ:NYAX)’s share price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $47.55 and traded as high as $47.99. Nayax shares last traded at $47.66, with a volume of 13,469 shares.

Analyst Upgrades and Downgrades

NYAX has been the subject of several analyst reports. UBS Group restated a “neutral” rating and set a $70.00 target price on shares of Nayax in a research report on Tuesday, August 11th. Jefferies Financial Group started coverage on shares of Nayax in a research note on Wednesday, October 7th. They set a “buy” rating and a $68.30 price target for the company. Keefe, Bruyette & Woods upgraded shares of Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research report on Friday, August 14th. Weiss Ratings downgraded Nayax from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Finally, Barclays cut their price objective on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.46.

Nayax Stock Performance

The stock has a 50 day moving average of $47.55 and a 200 day moving average of $58.23. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 226.95 and a beta of 0.46.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%. The business had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $116.75 million. As a group, analysts predict that Nayax Ltd. will post 0.75 EPS for the current year.

Insider Buying and Selling

In other news, CEO Yair Nechmad purchased 44,148 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average cost of $47.84 per share, for a total transaction of $2,112,040.32. Following the completion of the purchase, the chief executive officer owned 7,524,641 shares of the company’s stock, valued at approximately $359,978,825.44. This trade represents a 0.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gal Omer sold 1,500 shares of the firm’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 transaction, the insider directly owned 18,539 shares in the company, valued at approximately $837,406.63. The trade was a 7.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 $146,588.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax in the second quarter valued at approximately $239,000. Bank of America Corp DE boosted its position in Nayax by 1,607.2% during the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after purchasing an additional 8,727 shares during the period. Tidal Investments LLC bought a new stake in shares of Nayax during the second quarter worth $650,000. Altshuler Shaham Ltd lifted its holdings in shares of Nayax by 5.0% in the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in shares of Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after buying an additional 25,694 shares in the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. (NASDAQ: NYAX) is a global commerce-enablement and payments technology company headquartered in Israel. It provides cashless payment solutions, transaction processing, and business-management tools for operators of unattended and automated retail environments.

The company’s products and services include payment terminals, cloud-based management software, telemetry and monitoring tools, customer engagement solutions, and loyalty capabilities. Nayax’s technology is used across a range of sectors, including vending, electric-vehicle charging, self-service laundries, fuel and convenience retail, parking, hospitality, and other automated or self-service businesses.

Founded in 2005, Nayax serves merchants and consumers in markets around the world through an international network of operations and partners.