Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw strong trading volume on Tuesday . 10,820 shares were traded 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.

Analyst Ratings Changes

NYAX has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Nayax in a research note on Tuesday, May 13th. Wall Street Zen cut shares of Nayax from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 1st. Keefe, Bruyette & Woods increased their price target on Nayax from $38.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, May 14th. William Blair upgraded Nayax from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 1st. Finally, B. Riley reiterated a “buy” rating and issued a $47.00 target price (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.33.

Nayax Stock Up 1.8%

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

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

Institutional Trading of Nayax

A number of large investors have recently bought and sold shares of NYAX. Citadel Advisors LLC acquired a new stake in shares of Nayax during the 4th quarter worth approximately $217,000. Hood River Capital Management LLC raised its holdings in Nayax by 144.6% during the fourth quarter. Hood River Capital Management LLC now owns 14,118 shares of the company’s stock worth $412,000 after buying an additional 8,346 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Nayax in the fourth quarter valued at $1,581,000. Verdence Capital Advisors LLC acquired a new position in shares of Nayax during the fourth quarter valued at about $326,000. Finally, Jane Street Group LLC acquired a new position in shares of Nayax during the fourth quarter valued at about $351,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.