Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw an uptick in trading volume on Monday . 13,592 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 9,383 shares.The stock last traded at $44.36 and had previously closed at $42.76.

Analyst Ratings Changes

A number of research firms recently commented on NYAX. William Blair raised Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nayax in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods lifted their target price on Nayax from $38.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 14th. B. Riley reiterated a “buy” rating and issued a $47.00 target price (up previously from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Finally, Wall Street Zen cut Nayax from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nayax currently has a consensus rating of “Moderate Buy” and an average price target of $38.33.

Nayax Stock Performance

The stock has a market cap of $1.59 billion, a P/E ratio of 249.46 and a beta of 0.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.67. The stock has a 50-day simple moving average of $41.44 and a 200-day simple moving average of $36.64.

Nayax (NASDAQ:NYAX) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $81.11 million for the quarter, compared to the consensus estimate of $85.08 million. Nayax had a return on equity of 0.23% and a net margin of 1.96%. Research analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current year.

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 boosted 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. Citadel Advisors LLC bought a new stake in Nayax in the fourth quarter valued at approximately $217,000. Verdence Capital Advisors LLC bought a new stake in Nayax in the fourth quarter valued at approximately $326,000. Bosun Asset Management LLC bought a new stake in Nayax in the first quarter valued at approximately $332,000. Finally, Jane Street Group LLC bought a new stake in Nayax in the fourth quarter valued at approximately $351,000. 34.87% of the stock is currently owned by institutional investors.

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.