Nayax (NASDAQ:NYAX) Reaches New 52-Week High – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) shares reached a new 52-week high on Wednesday . The company traded as high as $75.20 and last traded at $74.02, with a volume of 20201 shares changing hands. The stock had previously closed at $70.68.

Analyst Ratings Changes

NYAX has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Zacks Research cut Nayax from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target on the stock in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target on Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Finally, UBS Group increased their price target on Nayax from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.20.

Nayax Stock Up 2.2%

The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.77 billion, a P/E ratio of 95.87 and a beta of 0.39. The firm has a 50-day simple moving average of $63.93 and a two-hundred day simple moving average of $56.01.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.05). The firm had revenue of $106.86 million for the quarter, compared to the consensus estimate of $105.64 million. Nayax had a return on equity of 14.09% and a net margin of 6.95%. Equities research analysts expect that Nayax Ltd. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Keren Sharir sold 4,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $71.80, for a total transaction of $323,100.00. Following the sale, the president directly owned 26,876 shares of the company’s stock, valued at approximately $1,929,696.80. This represents a 14.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Michal Sever sold 5,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $64.32, for a total value of $321,600.00. Following the sale, the chief marketing officer directly owned 17,306 shares in the company, valued at approximately $1,113,121.92. This trade represents a 22.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,033 shares of company stock valued at $873,328.

Institutional Trading of Nayax

Several large investors have recently modified their holdings of NYAX. Russell Investments Group Ltd. grew its holdings in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Nayax during the 2nd quarter worth $33,000. Bank of America Corp DE grew its holdings in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC acquired a new stake in shares of Nayax during the 4th quarter worth $69,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Nayax during the 3rd quarter worth $128,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.