Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw an uptick in trading volume on Tuesday . Approximately 92,757 shares traded hands during mid-day trading, an increase of 381% from the previous session’s volume of 19,270 shares.The stock last traded at $51.5050 and had previously closed at $52.24.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NYAX shares. Weiss Ratings raised Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods raised Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, August 14th. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Barclays dropped their price target on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, UBS Group restated a “neutral” rating and issued a $70.00 price objective on shares of Nayax in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.76.

Nayax Stock Down 1.6%

The firm has a 50-day moving average of $60.61 and a two-hundred day moving average of $62.02. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 244.88 and a beta of 0.43. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 1.43.

Nayax (NASDAQ:NYAX) last released its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. As a group, sell-side analysts predict that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Nayax

In related news, insider Eden Zafrani sold 500 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total transaction of $32,445.00. Following the completion of the transaction, the insider directly owned 14,869 shares in the company, valued at $964,849.41. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sagit Manor sold 1,252 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the sale, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at approximately $3,019,184.12. This trade represents a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,148 shares of company stock valued at $202,201 over the last three months.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,353 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Nayax by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nayax by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock worth $1,685,000 after acquiring an additional 5,523 shares during the period. Legal & General Group Plc lifted its position in shares of Nayax by 18.6% in the 2nd quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock worth $711,000 after acquiring an additional 2,214 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Nayax by 210.5% during 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 in the last quarter. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.