Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $37.32, but opened at $39.86. Nayax shares last traded at $40.27, with a volume of 2,518 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NYAX shares. B. Riley restated a “buy” rating and set a $44.00 price objective (up from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their target price on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, March 6th. Finally, William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $34.75.

Nayax Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -129.69 and a beta of 0.23. The business’s 50-day simple moving average is $36.42 and its 200-day simple moving average is $32.47.

Hedge Funds Weigh In On Nayax

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position 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 worth $44,000 after purchasing an additional 1,353 shares in the last quarter. Barclays PLC grew its stake in Nayax by 5,526.8% in the third 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 shares of Nayax in the third quarter worth about $69,000. Citadel Advisors LLC acquired a new stake in shares of Nayax during the fourth quarter worth about $217,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Nayax during the 4th quarter valued at about $326,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.