Nayax (NASDAQ:NYAX) Trading 5.6% Higher – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) was up 5.6% during mid-day trading on Thursday . The company traded as high as $65.70 and last traded at $65.1290. Approximately 5,248 shares were traded during trading, a decline of 57% from the average daily volume of 12,113 shares. The stock had previously closed at $61.69.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. William Blair reiterated an “outperform” rating on shares of Nayax in a report on Monday, March 9th. Keefe, Bruyette & Woods boosted their price target on shares of Nayax from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Nayax in a research report on Thursday, January 22nd. Finally, Zacks Research raised Nayax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nayax currently has an average rating of “Hold” and an average target price of $51.67.

Nayax Price Performance

The company has a 50-day moving average of $57.36 and a 200-day moving average of $51.55. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.16 and a current ratio of 2.26. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 68.70 and a beta of 0.10.

Nayax (NASDAQ:NYAX) last announced its earnings results on Monday, March 9th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. The firm had revenue of $119.45 million for the quarter, compared to the consensus estimate of $120.13 million. Nayax had a net margin of 8.87% and a return on equity of 11.60%. As a group, research analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Nayax

Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in Nayax by 210.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Osaic Holdings Inc. acquired a new stake in shares of Nayax in the 2nd quarter valued at about $33,000. Bank of America Corp DE lifted its holdings in shares of 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 purchasing an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC bought a new stake in shares of Nayax in the fourth quarter valued at about $69,000. Finally, Alliancebernstein L.P. acquired a new position in shares of Nayax during the third quarter worth about $128,000. 34.87% of the stock is owned by institutional investors.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.