Nayax (NASDAQ:NYAX) Trading Up 7.4% on Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX)’s share price shot up 7.4% during trading on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $33.00 to $38.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Nayax traded as high as $36.36 and last traded at $38.03. 13,490 shares were traded during trading, an increase of 69% from the average session volume of 7,992 shares. The stock had previously closed at $35.42.

Separately, B. Riley reissued a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Nayax in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NYAX. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,353 shares during the last quarter. Barclays PLC grew its stake in shares of Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after buying an additional 2,266 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Nayax during the 3rd quarter worth $69,000. Citadel Advisors LLC purchased a new position in shares of Nayax in the 4th quarter worth $217,000. Finally, Verdence Capital Advisors LLC acquired a new position in Nayax in the fourth quarter valued at $326,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Stock Performance

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 stock has a market cap of $1.30 billion, a PE ratio of -117.08 and a beta of 0.02. The stock has a 50-day simple moving average of $35.83 and a 200-day simple moving average of $29.78.

Nayax Company Profile

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.