Nayax (NASDAQ:NYAX) Sees Large Volume Increase on Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX) saw strong trading volume on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $30.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. 13,808 shares changed hands during mid-day trading, an increase of 64% from the previous session’s volume of 8,416 shares.The stock last traded at $28.12 and had previously closed at $28.02.

Several other brokerages also recently issued reports on NYAX. Oppenheimer assumed coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, B. Riley started coverage on Nayax in a research note on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target for the company. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nayax currently has an average rating of “Moderate Buy” and a consensus target price of $31.25.

Hedge Funds Weigh In On Nayax

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Nayax by 5,526.8% in the third 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 period. Public Employees Retirement System of Ohio bought a new stake in Nayax during the 3rd quarter valued at about $69,000. Hood River Capital Management LLC grew its stake in Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after buying an additional 1,099 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Nayax in the 2nd quarter worth approximately $229,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The company has a market cap of $992.17 million, a P/E ratio of -90.26 and a beta of -0.07. The business has a 50-day moving average of $27.61 and a two-hundred day moving average of $25.01.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $83.01 million for the quarter, compared to analyst estimates of $88.40 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. On average, sell-side analysts predict that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

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.