Nayax (NASDAQ:NYAX) Sees Strong Trading Volume - Should You Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares saw an uptick in trading volume on Wednesday . 11,712 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NYAX shares. B. Riley assumed coverage on Nayax in a research note on Tuesday, November 19th. They set a "buy" rating and a $38.00 price objective on the stock. Barclays boosted their price target on shares of Nayax from $23.00 to $28.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods raised their price objective on shares of Nayax from $28.00 to $30.00 and gave the stock a "market perform" rating in a research report on Monday, December 9th. Jefferies Financial Group upgraded shares of Nayax from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Finally, Oppenheimer began coverage on shares of Nayax in a report on Tuesday, October 1st. They set a "market perform" rating for the company. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.25.

Nayax Price Performance

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 company has a market cap of $985.43 million, a price-to-earnings ratio of -89.64 and a beta of -0.07. The stock's 50-day simple moving average is $27.85 and its 200 day simple moving average is $25.07.

Nayax (NASDAQ:NYAX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, topping 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 firm had revenue of $83.01 million for the quarter, compared to analyst estimates of $88.40 million. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Nayax

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Nayax by 5,526.8% in the third quarter. Barclays PLC now owns 2,307 shares of the company's stock valued at $58,000 after purchasing 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 third quarter worth $69,000. Hood River Capital Management LLC raised its stake 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 acquiring an additional 1,401 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $168,000 after purchasing an additional 1,099 shares during the period. Finally, Ingalls & Snyder LLC acquired a new position in Nayax during the 2nd quarter worth $229,000. 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.