Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Tuesday . 3,230 shares changed hands during mid-day trading, a decline of 61% from the previous session’s volume of 8,319 shares.The stock last traded at $29.58 and had previously closed at $29.26.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their price target on Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Barclays lifted their price target on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. B. Riley began coverage on shares of Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price objective for the company. Oppenheimer began coverage on shares of Nayax in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Nayax Trading Up 0.8 %

The company has a quick ratio of 1.16, a current ratio of 1.25 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $26.84 and a 200-day simple moving average of $24.82. The company has a market cap of $1.05 billion, a PE ratio of -94.38 and a beta of -0.08.

Nayax (NASDAQ:NYAX) last announced its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $88.40 million. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. During the same period last year, the business posted ($0.09) EPS. On average, analysts predict that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

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