Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – What’s Next?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Wednesday . 31,517 shares changed hands during mid-day trading, an increase of 276% from the previous session’s volume of 8,383 shares.The stock last traded at $27.00 and had previously closed at $26.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NYAX shares. Barclays boosted their price target on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods reduced their price target on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer initiated coverage on Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.33.

Nayax Trading Up 0.4 %

The company’s fifty day simple moving average is $26.23 and its two-hundred day simple moving average is $24.82. The company has a market capitalization of $996.43 million, a price-to-earnings ratio of -90.64 and a beta of -0.08. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.11.

Institutional Trading of Nayax

Several hedge funds have recently added to or reduced their stakes in the business. Azora Capital LP raised its holdings 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. Swedbank AB raised its holdings in shares of Nayax by 107.6% during the third 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 period. ARK Investment Management LLC lifted its position in Nayax by 1.7% in the 3rd quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after acquiring an additional 1,445 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after purchasing an additional 115,262 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in Nayax by 35.8% during the 2nd quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares in the last quarter. Institutional investors and hedge funds 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.