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

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Thursday . Approximately 11,443 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 7,837 shares.The stock last traded at $37.82 and had previously closed at $37.09.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NYAX. B. Riley started coverage on Nayax in a report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price objective for the company. Barclays raised their price target on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nayax has a consensus rating of “Moderate Buy” and an average target price of $31.25.

Nayax Stock Up 2.1 %

The firm has a 50 day simple moving average of $30.56 and a two-hundred day simple moving average of $27.01. The stock has a market capitalization of $1.34 billion, a P/E ratio of -122.11 and a beta of -0.03. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11.

Nayax (NASDAQ:NYAX) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business 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 period last year, the firm posted ($0.09) earnings per share. On average, equities research analysts expect that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NYAX. ARK Investment Management LLC grew its holdings in shares of Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock worth $2,261,000 after purchasing an additional 1,445 shares during the last quarter. Barclays PLC increased its holdings in 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 purchasing an additional 2,266 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Nayax during the 3rd quarter worth about $69,000. Azora Capital LP grew its position in shares of Nayax by 4.9% in the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after buying an additional 4,724 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Nayax by 44.5% in the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after buying an additional 92,441 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.