Nayax (NASDAQ:NYAX) Hits New 1-Year High – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $46.27 and last traded at $45.04, with a volume of 7292 shares. The stock had previously closed at $45.55.

Analyst Ratings Changes

NYAX has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and set a $47.00 price objective (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods upped their price objective on shares of Nayax from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Nayax in a report on Tuesday, May 13th. Wall Street Zen lowered Nayax from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 1st. Finally, William Blair raised shares of Nayax from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.33.

Nayax Stock Down 1.7%

The stock’s fifty day moving average is $41.25 and its two-hundred day moving average is $36.58. The firm has a market cap of $1.59 billion, a P/E ratio of -144.38 and a beta of 0.18. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake 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 last quarter. Citadel Advisors LLC bought a new stake in Nayax in the 4th quarter worth approximately $217,000. Verdence Capital Advisors LLC purchased a new stake in Nayax in the fourth quarter worth approximately $326,000. Bosun Asset Management LLC purchased a new stake in Nayax in the first quarter worth approximately $332,000. Finally, Jane Street Group LLC purchased a new position in shares of Nayax during the fourth quarter worth approximately $351,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

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.