Nayax (NASDAQ:NYAX) Trading Up 4.8% – Here’s What Happened

Nayax Ltd. (NASDAQ:NYAX) shares rose 4.8% during mid-day trading on Wednesday . The company traded as high as $49.32 and last traded at $49.82. Approximately 5,634 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 11,107 shares. The stock had previously closed at $47.52.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research note on Wednesday, October 8th. UBS Group raised their price target on shares of Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Wall Street Zen downgraded Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Zacks Research downgraded Nayax from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 20th. Finally, Keefe, Bruyette & Woods cut their target price on Nayax from $50.00 to $47.00 and set a “market perform” rating on the stock in a research report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $47.33.

Nayax Stock Up 4.8%

The stock’s fifty day moving average is $44.26 and its two-hundred day moving average is $45.85. The company has a current ratio of 1.71, a quick ratio of 1.62 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.77 billion, a PE ratio of 77.84 and a beta of 0.19.

Nayax (NASDAQ:NYAX) last announced its quarterly earnings data on Wednesday, November 19th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.12). Nayax had a return on equity of 6.51% and a net margin of 6.49%.The company had revenue of $104.28 million during the quarter, compared to the consensus estimate of $109.51 million. As a group, analysts predict that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Trading of Nayax

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake 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 acquiring an additional 400 shares during the period. Osaic Holdings Inc. purchased a new stake in Nayax during the second quarter valued at about $33,000. Bank of America Corp DE boosted 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 purchasing an additional 1,353 shares during the period. Alliancebernstein L.P. purchased a new position in shares of Nayax in the third quarter worth about $128,000. Finally, Ascent Group LLC bought a new stake in shares of Nayax in the second quarter valued at approximately $220,000. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.