Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Monday . Approximately 3,844 shares were traded during mid-day trading, a decline of 50% from the previous session’s volume of 7,689 shares.The stock last traded at $37.73 and had previously closed at $39.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NYAX shares. Keefe, Bruyette & Woods lifted their price target on shares of Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, March 6th. B. Riley reaffirmed a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Nayax in a report on Wednesday, March 5th. Finally, William Blair raised Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Nayax currently has a consensus rating of “Hold” and a consensus price target of $34.75.

Nayax Stock Up 5.6 %

The business’s 50-day moving average is $36.40 and its two-hundred day moving average is $32.52. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -127.09 and a beta of 0.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25.

Institutional Investors Weigh In On Nayax

Several hedge funds have recently bought and sold shares of NYAX. Y.D. More Investments Ltd grew its holdings in shares of 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 buying an additional 354,350 shares during the period. Barclays PLC lifted its holdings 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 acquiring an additional 2,266 shares in the last quarter. Swedbank AB grew its stake in Nayax by 44.5% in the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after acquiring an additional 92,441 shares during the period. Verdence Capital Advisors LLC bought a new stake in shares of Nayax in the fourth quarter worth about $326,000. Finally, Baillie Gifford & Co. raised its position in shares of Nayax by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock worth $1,517,000 after purchasing an additional 1,161 shares during the period. 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.