Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Thursday . 40,141 shares traded hands during trading, an increase of 267% from the previous session’s volume of 10,935 shares.The stock last traded at $51.2450 and had previously closed at $51.00.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NYAX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nayax in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Friday, January 2nd. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. UBS Group upped their price target on Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, November 21st. Finally, Wall Street Zen lowered Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Price Performance

The stock has a 50 day moving average of $54.74 and a 200-day moving average of $48.98. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.62 and a current ratio of 1.71. The company has a market cap of $1.87 billion, a PE ratio of 79.92 and a beta of 0.14.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd lifted its position in Nayax by 6.6% during the second quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company’s stock valued at $59,025,000 after purchasing an additional 72,751 shares during the period. Savant Capital LLC acquired a new position in shares of Nayax in the 2nd quarter valued at about $433,000. AltraVue Capital LLC purchased a new stake in shares of Nayax in the fourth quarter worth about $11,623,000. Legato Capital Management LLC acquired a new stake in Nayax during the fourth quarter worth about $1,072,000. Finally, UBS Group AG grew its holdings in Nayax by 12,665.1% during the fourth quarter. UBS Group AG now owns 57,443 shares of the company’s stock worth $2,907,000 after acquiring an additional 56,993 shares during the period. Institutional investors and hedge funds own 34.87% of the company’s stock.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.