Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Monday . Approximately 9,643 shares changed hands during trading, an increase of 21% from the previous session’s volume of 7,948 shares.The stock last traded at $41.15 and had previously closed at $41.32.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NYAX shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nayax in a report on Tuesday, May 13th. William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods boosted their price target on Nayax from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 14th. Finally, B. Riley reaffirmed a “buy” rating and set a $47.00 price objective (up previously from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.33.

Nayax Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $37.65 and its 200 day moving average price is $34.39. The company has a market capitalization of $1.45 billion, a P/E ratio of -132.17 and a beta of 0.13.

Nayax (NASDAQ:NYAX) last posted its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $81.11 million during the quarter, compared to analysts’ expectations of $85.08 million. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. Analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several institutional investors have recently added to or reduced their stakes in NYAX. Geode Capital Management LLC grew its stake in Nayax by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 27,976 shares of the company’s stock valued at $828,000 after purchasing an additional 650 shares in the last quarter. Baillie Gifford & Co. grew its stake in Nayax by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock valued at $1,517,000 after acquiring an additional 1,161 shares during the period. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,353 shares during the period. Barclays PLC raised its holdings in Nayax by 5,526.8% during the third quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Swiss National Bank raised its stake in Nayax by 17.6% in the first quarter. Swiss National Bank now owns 24,871 shares of the company’s stock valued at $838,000 after buying an additional 3,714 shares during the period. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.