Nayax (NASDAQ:NYAX) Upgraded by B. Riley to Strong-Buy Rating

Nayax (NASDAQ:NYAX) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently weighed in on NYAX. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer started coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Barclays raised their target price on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Nayax Trading Down 3.1 %

Shares of NASDAQ NYAX opened at $28.05 on Monday. The business’s 50 day moving average price is $26.50 and its 200-day moving average price is $24.84. The company has a market cap of $994.65 million, a price-to-earnings ratio of -90.48 and a beta of -0.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. Nayax has a fifty-two week low of $18.46 and a fifty-two week high of $30.99.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The firm had revenue of $83.01 million during the quarter, compared to analyst estimates of $88.40 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. On average, sell-side analysts expect that Nayax will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

A number of large investors have recently made changes to their positions in NYAX. Y.D. More Investments Ltd acquired a new position in Nayax during the 2nd quarter valued at about $14,790,000. Swedbank AB increased its holdings in shares of Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after acquiring an additional 107,559 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after purchasing an additional 115,262 shares during the last quarter. Azora Capital LP boosted its stake in Nayax by 4.9% in the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after purchasing an additional 4,724 shares in the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after buying an additional 1,445 shares during the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company Profile

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.