Nayax (NASDAQ:NYAX) Trading 6.2% Higher – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) was up 6.2% on Friday . The company traded as high as $47.97 and last traded at $48.00. Approximately 15,033 shares were traded during trading, a decline of 28% from the average daily volume of 20,744 shares. The stock had previously closed at $45.19.

Wall Street Analysts Forecast Growth

NYAX has been the subject of several research reports. Zacks Research cut Nayax from a “hold” rating to a “strong sell” rating in a report on Thursday, November 20th. Keefe, Bruyette & Woods dropped their target price on Nayax from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Thursday, November 20th. UBS Group boosted their target price on shares of Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, November 21st. Wall Street Zen downgraded shares of Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Nayax has an average rating of “Hold” and an average target price of $47.33.

Nayax Price Performance

The company has a fifty day simple moving average of $44.72 and a two-hundred day simple moving average of $45.56. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 74.01 and a beta of 0.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.62 and a current ratio of 1.71.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The company had revenue of $104.28 million during the quarter, compared to the consensus estimate of $109.51 million. Nayax had a return on equity of 6.51% and a net margin of 6.49%. As a group, equities research analysts expect that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in shares of Nayax during the 3rd quarter worth approximately $223,000. Bank of America Corp DE raised its position in Nayax by 254.9% during the third quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock valued at $63,000 after purchasing an additional 956 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Nayax during the third quarter valued at approximately $128,000. ARK Investment Management LLC lifted its stake in Nayax by 3.2% during the third quarter. ARK Investment Management LLC now owns 43,117 shares of the company’s stock worth $2,058,000 after purchasing an additional 1,331 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Nayax by 4,022.5% in the 3rd quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock valued at $26,210,000 after purchasing an additional 535,476 shares in the last quarter. 34.87% of the stock is currently 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.