Nayax (NASDAQ:NYAX) Reaches New 12-Month High - Here's Why

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.68 and last traded at $31.80, with a volume of 2991 shares traded. The stock had previously closed at $30.16.

Wall Street Analysts Forecast Growth

NYAX has been the topic of several research reports. Jefferies Financial Group raised shares of Nayax from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. B. Riley initiated coverage on Nayax in a report on Tuesday, November 19th. They issued a "buy" rating and a $38.00 price target on the stock. Oppenheimer began coverage on Nayax in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods upped their price target on Nayax from $28.00 to $30.00 and gave the stock a "market perform" rating in a research report on Monday, December 9th. Finally, Barclays lifted their price objective on shares of 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.25.

Nayax Stock Up 1.7 %

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -98.93 and a beta of -0.07. The firm has a 50-day moving average of $28.43 and a 200 day moving average of $25.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16.

Nayax (NASDAQ:NYAX - Get Free Report) last released 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. Nayax had a negative net margin of 3.62% and a negative return on equity of 7.32%. The business had revenue of $83.01 million during the quarter, compared to analysts' expectations of $88.40 million. During the same period last year, the business earned ($0.09) earnings per share. As a group, sell-side analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in 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 purchasing an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Nayax during the third quarter worth approximately $69,000. Hood River Capital Management LLC grew its position in shares of 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 purchasing an additional 1,401 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 purchasing an additional 1,099 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in Nayax during the 2nd quarter worth approximately $1,010,000. 34.87% of the stock is currently owned by institutional investors.

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.