Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Time to Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Thursday . Approximately 11,443 shares changed hands during mid-day trading, an increase of 46% from the previous session’s volume of 7,837 shares.The stock last traded at $37.82 and had previously closed at $37.09.

Analysts Set New Price Targets

NYAX has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. B. Riley began coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Nayax from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.25.

Nayax Trading Up 2.1 %

The business has a 50-day moving average of $30.56 and a two-hundred day moving average of $27.01. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -122.11 and a beta of -0.03.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $88.40 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. During the same period last year, the business earned ($0.09) earnings per share. Research analysts predict that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB lifted its position in shares of Nayax by 107.6% during the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after buying an additional 107,559 shares during the period. Assenagon Asset Management S.A. lifted its position in Nayax by 184.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after purchasing an additional 115,262 shares during the period. Barclays PLC lifted its holdings 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 buying an additional 2,266 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Nayax during the 3rd quarter worth $69,000. Finally, Azora Capital LP raised its position in shares of Nayax by 4.9% during the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after acquiring an additional 4,724 shares during the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

About Nayax

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.