Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Monday . Approximately 23,228 shares changed hands during mid-day trading, an increase of 172% from the previous session’s volume of 8,552 shares.The stock last traded at $28.05 and had previously closed at $27.78.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays lifted their target price on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Oppenheimer initiated coverage on Nayax in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. B. Riley started coverage on Nayax in a research note on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Stock Up 3.6 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -92.87 and a beta of -0.07. 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 50-day moving average of $28.14 and a 200-day moving average of $25.28.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $83.01 million for 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 quarter last year, the business earned ($0.09) earnings per share. Sell-side analysts predict that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently modified their holdings of NYAX. Swedbank AB increased its position in 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 purchasing an additional 107,559 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Nayax during the 2nd quarter valued at $14,790,000. Allspring Global Investments Holdings LLC bought a new stake in Nayax during the 2nd quarter worth $1,673,000. Assenagon Asset Management S.A. increased its holdings in Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after purchasing an additional 115,262 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Nayax in the second quarter valued at about $1,010,000. Institutional investors 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.