Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – What’s Next?

Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Wednesday . 19,575 shares changed hands during trading, an increase of 134% from the previous session’s volume of 8,371 shares.The stock last traded at $29.30 and had previously closed at $28.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NYAX shares. Oppenheimer initiated coverage on Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays increased their target price on Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.33.

Nayax Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. The company’s 50 day moving average price is $25.38 and its 200 day moving average price is $24.63. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -68.88 and a beta of 0.03.

Nayax (NASDAQ:NYAX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $78.09 million for the quarter, compared to the consensus estimate of $78.10 million. Nayax had a negative net margin of 5.34% and a negative return on equity of 11.18%. During the same quarter last year, the business earned ($0.12) earnings per share. Research analysts anticipate that Nayax Ltd. will post -0.23 EPS for the current year.

Institutional Trading of Nayax

Several hedge funds have recently added to or reduced their stakes in NYAX. Baillie Gifford & Co. acquired a new position in shares of Nayax during the first quarter worth approximately $1,302,000. Hood River Capital Management LLC acquired a new stake in Nayax in the 1st quarter worth $102,000. Swedbank AB acquired a new stake in Nayax in the 1st quarter valued at $2,620,000. Allspring Global Investments Holdings LLC bought a new stake in Nayax in the second quarter valued at $1,673,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nayax by 16.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock worth $168,000 after acquiring an additional 1,099 shares in the last quarter. Institutional investors own 34.87% of the company’s stock.

About Nayax

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.