Nayax (NASDAQ:NYAX) Sees Large Volume Increase After Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $30.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. 13,808 shares traded hands during trading, an increase of 64% from the previous session’s volume of 8,416 shares.The stock last traded at $28.12 and had previously closed at $28.02.

Several other brokerages also recently weighed in on NYAX. Barclays upped their target price on 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 shares of Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. B. Riley began coverage on shares of Nayax in a research report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price on the stock. 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 given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.25.

Institutional Investors Weigh In On Nayax

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted 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 acquiring an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Nayax during the 3rd quarter worth approximately $69,000. Hood River Capital Management LLC grew its position in shares of Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock valued at $116,000 after purchasing an additional 1,401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nayax by 16.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Ingalls & Snyder LLC purchased a new position in shares of Nayax during the 2nd quarter worth $229,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Stock Performance

The firm’s 50-day moving average price is $27.49 and its two-hundred day moving average price is $24.96. 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 cap of $1.01 billion, a price-to-earnings ratio of -91.96 and a beta of -0.07.

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

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.