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

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-strong trading volume on Thursday . Approximately 13,636 shares changed hands during mid-day trading, an increase of 134% from the previous session’s volume of 5,816 shares.The stock last traded at $53.19 and had previously closed at $51.61.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NYAX. Wall Street Zen cut shares of Nayax from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a report on Wednesday, October 8th. UBS Group increased their price objective on Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Keefe, Bruyette & Woods upped their price target on Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a report on Friday, January 2nd. Finally, Zacks Research lowered Nayax from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.00.

Nayax Price Performance

The stock has a market cap of $1.97 billion, a P/E ratio of 86.88 and a beta of 0.14. The business has a 50 day simple moving average of $45.96 and a 200-day simple moving average of $46.39. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). Nayax had a return on equity of 6.51% and a net margin of 6.49%.The company had revenue of $104.28 million during the quarter, compared to analysts’ expectations of $109.51 million. On average, sell-side analysts forecast that Nayax Ltd. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Nayax

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after buying an additional 1,353 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Nayax by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock worth $9,966,000 after acquiring an additional 89,886 shares during the last quarter. Ascent Group LLC purchased a new stake in Nayax in the 2nd quarter worth about $220,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Nayax during the second quarter valued at about $340,000. Finally, Savant Capital LLC bought a new position in Nayax during the second quarter worth about $433,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.