Nayax (NASDAQ:NYAX) Sees Large Volume Increase – What’s Next?

Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Monday . Approximately 6,531 shares changed hands during mid-day 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 Analysts Forecast Growth

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

Nayax Price Performance

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

Institutional Trading of Nayax

Several hedge funds have recently made changes to their positions in NYAX. Bank of America Corp DE grew its stake in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after acquiring an additional 1,353 shares during the period. Barclays PLC boosted its position in Nayax by 5,526.8% during the third quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after purchasing an additional 2,266 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax in the third quarter worth about $69,000. Citadel Advisors LLC bought a new stake in shares of Nayax in the fourth quarter valued at approximately $217,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Nayax during the 4th quarter valued at approximately $326,000. 34.87% of the stock is currently owned by institutional investors.

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.