Nayax (NASDAQ:NYAX) Sees Large Volume Increase – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Friday . 19,035 shares changed hands during mid-day trading, an increase of 138% from the previous session’s volume of 7,994 shares.The stock last traded at $25.08 and had previously closed at $25.07.

Analyst Ratings Changes

NYAX has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Barclays cut their price target on shares of Nayax from $27.00 to $23.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods decreased their price objective on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 8th.

Nayax Stock Up 3.7 %

The stock has a market capitalization of $921.96 million, a PE ratio of -59.69 and a beta of 0.03. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average is $24.19 and its 200 day moving average is $24.52.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. The company had revenue of $78.09 million for the quarter, compared to analyst estimates of $78.10 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. As a group, analysts anticipate that Nayax Ltd. will post -0.12 EPS for the current year.

Institutional Trading of Nayax

Several large investors have recently made changes to their positions in NYAX. Hood River Capital Management LLC purchased a new position in Nayax in the first quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nayax by 16.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after buying an additional 1,099 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of Nayax during the 2nd quarter worth approximately $229,000. Altshuler Shaham Ltd acquired a new position in shares of Nayax during the 2nd quarter worth approximately $1,010,000. Finally, Baillie Gifford & Co. lifted its position in shares of Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock valued at $1,072,000 after buying an additional 616 shares in the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.