Nayax (NASDAQ:NYAX) Hits New 52-Week High – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.68 and last traded at $31.80, with a volume of 2991 shares trading hands. The stock had previously closed at $30.16.

Analyst Upgrades and Downgrades

NYAX has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on Nayax from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, December 9th. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. B. Riley initiated coverage on shares of Nayax in a research note on Tuesday, November 19th. They set a “buy” rating and a $38.00 target price on the stock. Oppenheimer assumed coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Barclays boosted their price objective on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.25.

Nayax Stock Up 1.7 %

The company’s 50-day moving average price is $28.43 and its 200 day moving average price is $25.46. 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 stock has a market cap of $1.09 billion, a PE ratio of -98.93 and a beta of -0.03.

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

Hedge Funds Weigh In On Nayax

Several institutional investors and hedge funds have recently bought and sold shares of NYAX. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after buying an additional 1,099 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in Nayax during the 2nd quarter worth approximately $14,790,000. Altshuler Shaham Ltd purchased a new position in Nayax during the second quarter valued at approximately $1,010,000. Hood River Capital Management LLC boosted its position in shares of Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares during the period. Finally, Swedbank AB increased its stake in shares of Nayax by 107.6% in the third 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. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

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.