Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw unusually-high trading volume on Monday . Approximately 17,628 shares traded hands during trading, an increase of 112% from the previous session’s volume of 8,301 shares.The stock last traded at $35.04 and had previously closed at $35.84.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NYAX shares. Keefe, Bruyette & Woods upped their price target on Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday. B. Riley reiterated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.75.

Nayax Stock Down 2.2 %

The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -113.10 and a beta of 0.08. The stock has a 50-day moving average of $36.12 and a 200-day moving average of $29.98. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Institutional Trading of Nayax

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

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.