Nayax (NASDAQ:NYAX) Trading 6.2% Higher

Shares of Nayax Ltd. (NASDAQ:NYAX) were up 6.2% during trading on Tuesday . The company traded as high as $24.36 and last traded at $24.36. Approximately 615 shares changed hands during trading, a decline of 93% from the average daily volume of 8,306 shares. The stock had previously closed at $22.93.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NYAX. Barclays started coverage on shares of Nayax in a research note on Wednesday, May 22nd. They issued an “equal weight” rating and a $27.00 price objective on the stock. UBS Group began coverage on shares of Nayax in a report on Monday, April 29th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Keefe, Bruyette & Woods began coverage on shares of Nayax in a research note on Monday, June 17th. They issued a “market perform” rating and a $27.00 target price for the company.

Nayax Price Performance

The stock has a market cap of $800.15 million, a price-to-earnings ratio of -52.96 and a beta of 0.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.36 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $24.73 and its two-hundred day simple moving average is $24.49.

Nayax (NASDAQ:NYAX) last issued its earnings results on Wednesday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.13). The business had revenue of $63.96 million for the quarter, compared to analyst estimates of $70.93 million. Nayax had a negative net margin of 6.20% and a negative return on equity of 13.46%. On average, analysts forecast that Nayax Ltd. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in Nayax by 152.9% during the first quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock worth $1,655,000 after acquiring an additional 37,853 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Nayax in the 1st quarter valued at $9,170,000. Baillie Gifford & Co. bought a new stake in shares of Nayax in the 1st quarter worth about $1,302,000. Hood River Capital Management LLC acquired a new stake in shares of Nayax during the 1st quarter worth about $102,000. Finally, Swedbank AB bought a new position in Nayax during the 1st quarter valued at about $2,620,000. 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.