Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Wednesday . Approximately 19,575 shares changed hands during trading, an increase of 134% from the previous session’s volume of 8,371 shares.The stock last traded at $29.30 and had previously closed at $28.41.

Analyst Ratings Changes

NYAX has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods cut their target price on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Oppenheimer started coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Barclays lifted their target price on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.33.

Nayax Price Performance

The stock has a market capitalization of $1.04 billion, a PE ratio of -67.64 and a beta of 0.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. The stock’s 50-day moving average is $25.13 and its 200 day moving average is $24.56.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. The business had revenue of $78.09 million for the quarter, compared to analysts’ expectations of $78.10 million. During the same period in the previous year, the business posted ($0.12) earnings per share. As a group, equities analysts expect that Nayax Ltd. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

A number of hedge funds and other institutional investors have recently bought and sold shares of NYAX. Hood River Capital Management LLC acquired a new stake in shares of Nayax in the 1st quarter worth $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after purchasing an additional 1,099 shares during the period. Ingalls & Snyder LLC acquired a new stake in shares of Nayax in the second quarter valued at about $229,000. Altshuler Shaham Ltd acquired a new position in Nayax during the second quarter worth about $1,010,000. Finally, Baillie Gifford & Co. lifted its position in shares of Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock valued at $1,072,000 after acquiring an additional 616 shares during the period. 34.87% of the stock is currently owned by hedge funds and other 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.