Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Tuesday . 3,230 shares traded hands during mid-day trading, a decline of 61% from the previous session’s volume of 8,319 shares.The stock last traded at $29.58 and had previously closed at $29.26.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on NYAX shares. Barclays increased 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. Oppenheimer assumed coverage on Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. B. Riley assumed coverage on Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.00.

Nayax Price 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 50-day simple moving average of $26.84 and a 200-day simple moving average of $24.82. The stock has a market cap of $1.05 billion, a PE ratio of -94.38 and a beta of -0.08.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The firm had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $88.40 million. During the same quarter last year, the business earned ($0.09) earnings per share. Sell-side analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Nayax

Hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new position in shares of Nayax in the second quarter valued at $14,790,000. Swedbank AB raised its position in Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after acquiring an additional 107,559 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Nayax by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after purchasing an additional 115,262 shares in the last quarter. Azora Capital LP grew its position in shares of Nayax by 4.9% in the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after purchasing an additional 4,724 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in shares of Nayax by 1.7% during the 3rd 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 in the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.