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

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Monday . 6,531 shares traded hands during trading, a decline of 17% from the previous session’s volume of 7,860 shares.The stock last traded at $34.40 and had previously closed at $34.60.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NYAX. Keefe, Bruyette & Woods lifted their price objective on shares of Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, March 6th. B. Riley restated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Nayax in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.75.

Nayax Trading Up 0.7 %

The business has a fifty day moving average of $36.90 and a 200-day moving average of $30.95. 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 company has a market capitalization of $1.23 billion, a P/E ratio of -112.17 and a beta of 0.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Y.D. More Investments Ltd lifted its position in Nayax by 42.7% in the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after acquiring an additional 354,350 shares in the last quarter. Swedbank AB raised its stake in shares of Nayax by 44.5% in the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock worth $8,748,000 after purchasing an additional 92,441 shares during the last quarter. Azora Capital LP boosted its position in shares of Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after buying an additional 4,724 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Nayax during the fourth quarter worth $1,581,000. Finally, Baillie Gifford & Co. raised its position in Nayax by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock valued at $1,517,000 after buying an additional 1,161 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.