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

Shares of Nayax Ltd. (NASDAQ:NYAX) saw strong trading volume on Tuesday . 6,738 shares changed hands during mid-day trading, a decline of 19% from the previous session’s volume of 8,329 shares.The stock last traded at $28.82 and had previously closed at $28.48.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays boosted their target price on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods decreased their target price on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer initiated coverage on shares of Nayax in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nayax presently has a consensus rating of “Hold” and a consensus target price of $27.33.

Nayax Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. The firm has a market capitalization of $1.01 billion, a P/E ratio of -68.88 and a beta of -0.08. The firm has a 50 day moving average price of $25.60 and a two-hundred day moving average price of $24.68.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Nayax had a negative net margin of 5.34% and a negative return on equity of 11.18%. The company had revenue of $78.09 million during the quarter, compared to analyst estimates of $78.10 million. During the same quarter last year, the business earned ($0.12) EPS. On average, equities research analysts expect that Nayax Ltd. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd acquired a new stake in shares of Nayax during the second quarter worth approximately $14,790,000. Swedbank AB grew its holdings in shares of Nayax by 107.6% during the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after acquiring an additional 107,559 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Nayax by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after acquiring an additional 115,262 shares in the last quarter. ARK Investment Management LLC boosted its position in Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nayax in the second quarter valued at about $1,673,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

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.