Nayax (NASDAQ:NYAX) Shares Up 7.1% – Here’s Why

Nayax Ltd. (NASDAQ:NYAX)’s stock price shot up 7.1% during trading on Tuesday . The stock traded as high as $35.98 and last traded at $36.41. 1,512 shares changed hands during trading, a decline of 80% from the average session volume of 7,595 shares. The stock had previously closed at $34.00.

Analyst Ratings Changes

NYAX has been the topic of a number of recent research reports. Oppenheimer started coverage on Nayax in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Barclays upped their price objective on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, B. Riley initiated coverage on Nayax in a research note on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price target for the company. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nayax presently has an average rating of “Moderate Buy” and an average target price of $31.25.

Nayax Trading Up 6.9 %

The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.29 billion, a P/E ratio of -117.19 and a beta of -0.03. The business has a 50-day moving average price of $30.11 and a two-hundred day moving average price of $26.77.

Nayax (NASDAQ:NYAX) last released its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $83.01 million for the quarter, compared to analyst estimates of $88.40 million. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. During the same period last year, the firm earned ($0.09) EPS. On average, analysts expect that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NYAX. Swedbank AB lifted its holdings in shares of Nayax by 107.6% in 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 stake in Nayax by 184.1% in the 3rd 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 during the last quarter. ARK Investment Management LLC boosted its position in Nayax by 1.7% in the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after buying an additional 1,445 shares in the last quarter. Azora Capital LP grew its stake in shares of Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after buying an additional 4,724 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Nayax during the third quarter worth $69,000. Institutional investors 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.