Nayax (NASDAQ:NYAX) Shares Gap Up – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $37.32, but opened at $39.86. Nayax shares last traded at $40.27, with a volume of 2,518 shares changing hands.

Analyst Upgrades and Downgrades

NYAX has been the topic of a number of research reports. William Blair raised shares of Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods boosted their price target on Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, March 6th. Finally, B. Riley restated a “buy” rating and set a $44.00 price objective (up 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 three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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 has a fifty day moving average price of $36.43 and a 200-day moving average price of $32.58. The stock has a market capitalization of $1.46 billion, a PE ratio of -132.48 and a beta of 0.23.

Institutional Investors Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings 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 valued at $44,000 after buying an additional 1,353 shares during the period. Barclays PLC lifted its holdings in shares of Nayax by 5,526.8% in the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after acquiring an additional 2,266 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Nayax during the 4th quarter worth approximately $217,000. Verdence Capital Advisors LLC purchased a new stake in shares of Nayax in the fourth quarter valued at approximately $326,000. Finally, Jane Street Group LLC purchased a new stake in shares of Nayax in the 4th quarter worth approximately $351,000. 34.87% of the stock is owned by hedge funds and other 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.