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

Nayax Ltd. (NASDAQ:NYAX) shares saw unusually-high 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. Approximately 13,808 shares changed 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.

NYAX has been the subject of several other research reports. B. Riley began coverage on shares of Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price for the company. Barclays raised their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Oppenheimer initiated coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Four investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.25.

Institutional Trading of Nayax

A number of large investors have recently modified their holdings of NYAX. Swedbank AB grew its stake in Nayax by 107.6% during the 3rd quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Nayax during the second quarter worth approximately $14,790,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nayax during the second quarter worth approximately $1,673,000. Baillie Gifford & Co. raised its holdings in Nayax by 1.2% in the second 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 in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Nayax by 184.1% in the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after acquiring an additional 115,262 shares during the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Stock Up 1.5 %

The firm’s fifty day simple moving average is $27.49 and its 200 day simple moving average is $24.96. 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 company 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 earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $88.40 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Sell-side analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current 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.