Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Here’s What Happened

Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Monday . Approximately 17,628 shares were traded during mid-day 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

NYAX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, March 6th. B. Riley reaffirmed a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.75.

Nayax Stock Performance

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -115.19 and a beta of 0.08. The company’s 50 day simple moving average is $36.37 and its 200 day simple moving average is $30.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25.

Institutional Investors Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd lifted its holdings in shares of Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after buying an additional 354,350 shares during the period. Swedbank AB raised its position in 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 acquiring an additional 107,559 shares in the last quarter. Barclays PLC lifted its holdings 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 last quarter. Verdence Capital Advisors LLC bought a new position in shares of Nayax during the 4th quarter valued at about $326,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Nayax in the third quarter worth approximately $69,000. 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.