Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw an uptick in trading volume on Wednesday . 19,575 shares traded hands during trading, an increase of 134% from the previous session’s volume of 8,371 shares.The stock last traded at $29.30 and had previously closed at $28.41.

Analysts Set New Price Targets

NYAX has been the subject of several recent research reports. Barclays raised their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Oppenheimer began coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.33.

Nayax Stock Up 3.2 %

The company has a market cap of $1.04 billion, a PE ratio of -67.64 and a beta of 0.03. 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 fifty day simple moving average of $25.13 and a 200 day simple moving average of $24.56.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $78.09 million for the quarter, compared to analyst estimates of $78.10 million. Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. During the same period last year, the company posted ($0.12) EPS. Equities research analysts predict that Nayax Ltd. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock worth $1,072,000 after purchasing an additional 616 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nayax by 16.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after purchasing an additional 1,099 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Nayax by 35.8% during the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock valued at $116,000 after acquiring an additional 1,401 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in shares of Nayax during the second quarter worth about $229,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Nayax during the second quarter worth about $1,010,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.