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

Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Tuesday . 10,820 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 9,533 shares.The stock last traded at $45.09 and had previously closed at $44.35.

Wall Street Analyst Weigh In

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

Nayax Trading Up 1.8%

The firm has a fifty day moving average of $40.24 and a two-hundred day moving average of $36.06. The company has a market cap of $1.60 billion, a PE ratio of -145.64 and a beta of 0.18. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $81.11 million for the quarter, compared to the consensus estimate of $85.08 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. As a group, sell-side analysts predict that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Nayax

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Nayax by 2.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 663,061 shares of the company’s stock worth $22,415,000 after acquiring an additional 16,200 shares during the period. Ibex Investors LLC boosted its stake in Nayax by 19.3% in the 1st quarter. Ibex Investors LLC now owns 416,015 shares of the company’s stock worth $14,039,000 after purchasing an additional 67,276 shares during the period. Goldman Sachs Group Inc. grew its holdings in Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after buying an additional 89,886 shares in the last quarter. ARK Investment Management LLC purchased a new position in Nayax during the 1st quarter valued at about $1,906,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Nayax during the fourth quarter valued at about $1,581,000. Institutional investors own 34.87% of the company’s stock.

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.