Nayax (NASDAQ:NYAX) Shares Up 7.1% – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) shot up 7.1% during trading on Tuesday . The company traded as high as $35.98 and last traded at $36.41. 1,512 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 7,595 shares. The stock had previously closed at $34.00.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NYAX shares. Jefferies Financial Group upgraded shares of Nayax from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. B. Riley assumed coverage on Nayax in a report on Tuesday, November 19th. They set a “buy” rating and a $38.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. 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 analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.25.

Nayax Stock Up 1.8 %

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 business’s fifty day simple moving average is $30.36 and its 200-day simple moving average is $26.94.

Nayax (NASDAQ:NYAX) last posted its earnings results on Tuesday, November 12th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate 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 net margin of 3.62% and a negative return on equity of 7.32%. During the same period last year, the company posted ($0.09) earnings per share. Analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nayax

Several institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Nayax by 5,526.8% in the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after acquiring an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Nayax during the third quarter worth $69,000. ARK Investment Management LLC increased its position in Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after acquiring an additional 1,445 shares during the last quarter. Azora Capital LP raised its stake in shares of Nayax by 4.9% in the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after acquiring an additional 4,724 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Nayax by 184.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after acquiring an additional 115,262 shares during the last quarter. Hedge funds and other 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.