Nayax (NASDAQ:NYAX) Reaches New 1-Year High – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) reached a new 52-week high on Tuesday . The stock traded as high as $61.18 and last traded at $60.71, with a volume of 41398 shares. The stock had previously closed at $60.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NYAX shares. William Blair reiterated an “outperform” rating on shares of Nayax in a research report on Monday, March 9th. Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Keefe, Bruyette & Woods raised their target price on shares of Nayax from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, March 10th. Wall Street Zen downgraded shares of Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, UBS Group boosted their price target on shares of Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.67.

Nayax Trading Down 1.1%

The firm has a market cap of $2.22 billion, a P/E ratio of 63.79 and a beta of 0.19. The stock has a 50 day simple moving average of $56.74 and a 200-day simple moving average of $50.02. The company has a current ratio of 2.26, a quick ratio of 2.16 and a debt-to-equity ratio of 1.43.

Institutional Investors Weigh In On Nayax

Large investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its stake in Nayax by 9.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,894 shares of the company’s stock valued at $197,000 after purchasing an additional 330 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Nayax in the 3rd quarter worth $128,000. Smartleaf Asset Management LLC purchased a new position in shares of Nayax in the 4th quarter worth $69,000. Bank of America Corp DE increased its holdings in shares of Nayax by 254.9% in the 3rd quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 956 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of Nayax by 140.0% in the 4th quarter. Altshuler Shaham Ltd now owns 34,489 shares of the company’s stock worth $1,742,000 after buying an additional 20,121 shares during the last quarter. Institutional investors own 34.87% of the company’s stock.

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.