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

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Wednesday . 11,712 shares changed hands during trading, an increase of 39% from the previous session’s volume of 8,440 shares.The stock last traded at $28.15 and had previously closed at $27.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NYAX shares. Oppenheimer assumed coverage on shares of Nayax in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Barclays upped their price objective on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. B. Riley initiated coverage on shares of Nayax in a research report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Nayax has an average rating of “Moderate Buy” and an average price target of $31.25.

Nayax Price Performance

The business has a fifty day moving average of $27.85 and a 200-day moving average of $25.07. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $996.43 million, a PE ratio of -90.64 and a beta of -0.07.

Nayax (NASDAQ:NYAX) last released its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 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 $83.01 million during the quarter, compared to the consensus estimate of $88.40 million. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NYAX. Barclays PLC raised its position in shares of Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after buying an additional 2,266 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Nayax during the 3rd quarter valued at $69,000. Hood River Capital Management LLC raised its holdings in Nayax by 35.8% in the second quarter. Hood River Capital Management LLC now owns 5,313 shares of the company’s stock worth $116,000 after purchasing an additional 1,401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nayax by 16.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in Nayax during the 2nd quarter valued at about $229,000. Institutional investors own 34.87% of the company’s stock.

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.