Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Here’s What Happened

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Wednesday . 11,712 shares changed hands during trading, an increase of 39% from the previous session’s volume of 8,440 shares.The stock last traded at $28.15 and had previously closed at $27.92.

Analysts Set New Price Targets

NYAX has been the subject of several research analyst reports. 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. Keefe, Bruyette & Woods upped their target price on Nayax from $28.00 to $30.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Oppenheimer assumed coverage on shares of Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, B. Riley assumed coverage on Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.25.

Nayax Trading Up 0.6 %

The business’s fifty day moving average is $27.85 and its 200-day moving average is $25.07. The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $996.43 million, a PE ratio of -90.64 and a beta of -0.07.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted ($0.09) EPS. As a group, analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Y.D. More Investments Ltd acquired a new stake in shares of Nayax during the second quarter worth approximately $14,790,000. Swedbank AB boosted 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 acquiring an additional 107,559 shares during the last quarter. Assenagon Asset Management S.A. increased 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 valued at $4,638,000 after purchasing an additional 115,262 shares in the last quarter. Azora Capital LP raised its stake in Nayax by 4.9% during the 3rd 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 period. Finally, ARK Investment Management LLC lifted its holdings in shares of Nayax by 1.7% during the 3rd quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

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.