Nayax (NASDAQ:NYAX) Shares Gap Up – Here’s Why

Nayax Ltd. (NASDAQ:NYAX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $33.85, but opened at $35.69. Nayax shares last traded at $36.78, with a volume of 3,328 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on NYAX. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective (up from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. William Blair upgraded Nayax from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, March 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.75.

Nayax Stock Down 1.4 %

The firm’s 50-day simple moving average is $36.95 and its 200 day simple moving average is $31.36. 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 stock has a market capitalization of $1.31 billion, a P/E ratio of -119.32 and a beta of 0.08.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after buying an additional 1,353 shares in the last quarter. Barclays PLC increased its position 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 buying an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Nayax in the third quarter valued at approximately $69,000. Citadel Advisors LLC acquired a new position in shares of Nayax during the 4th quarter worth approximately $217,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Nayax during the 4th quarter valued at $326,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.