Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw an uptick in trading volume on Monday . 17,628 shares were traded during mid-day trading, an increase of 112% from the previous session’s volume of 8,301 shares.The stock last traded at $35.04 and had previously closed at $35.84.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, March 6th. B. Riley reiterated a “buy” rating and issued a $44.00 price objective (up from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Nayax presently has a consensus rating of “Hold” and an average price target of $34.75.

Nayax Stock Up 1.9 %

The stock has a market capitalization of $1.27 billion, a P/E ratio of -115.19 and a beta of 0.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The firm’s 50-day simple moving average is $36.37 and its 200 day simple moving average is $30.15.

Institutional Trading of Nayax

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Nayax by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 27,976 shares of the company’s stock worth $828,000 after buying an additional 650 shares in the last quarter. Baillie Gifford & Co. raised 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 purchasing an additional 1,161 shares in the last quarter. Bank of America Corp DE lifted its position in 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 purchasing an additional 1,353 shares during the period. Barclays PLC increased its stake 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 acquiring an additional 2,266 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Nayax during the third quarter valued at approximately $69,000. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.