Nayax (NASDAQ:NYAX) Sees Strong Trading Volume on Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $47.00 to $52.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Approximately 4,935 shares traded hands during trading, a decline of 10% from the previous session’s volume of 5,482 shares.The stock last traded at $51.38 and had previously closed at $50.60.

Several other analysts have also recently commented on NYAX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. Zacks Research cut shares of Nayax from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 20th. Wall Street Zen lowered shares of Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, UBS Group raised their price target on shares of Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.00.

Institutional Trading of Nayax

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after purchasing an additional 89,886 shares during the period. Ascent Group LLC acquired a new position in shares of Nayax in the 2nd quarter valued at $220,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nayax during the 2nd quarter worth $340,000. Finally, Savant Capital LLC acquired a new stake in shares of Nayax during the 2nd quarter worth about $433,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Stock Performance

The firm’s fifty day moving average is $44.86 and its 200-day moving average is $46.15. The company has a current ratio of 1.71, a quick ratio of 1.62 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.84 billion, a PE ratio of 81.17 and a beta of 0.14.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings results on Wednesday, November 19th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $104.28 million for the quarter, compared to analyst estimates of $109.51 million. Nayax had a net margin of 6.49% and a return on equity of 6.51%. As a group, research analysts anticipate that Nayax Ltd. will post -0.16 earnings per share for the current year.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.