Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw strong trading volume on Tuesday . 6,738 shares changed hands during mid-day trading, a decline of 19% from the previous session's volume of 8,329 shares.The stock last traded at $28.82 and had previously closed at $28.48.

Analyst Upgrades and Downgrades

NYAX has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Nayax from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Barclays raised 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. Oppenheimer began coverage on Nayax in a research report on Tuesday, October 1st. They issued a "market perform" rating for the company. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Nayax from $27.00 to $25.00 and set a "market perform" rating on the stock in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.33.

Nayax Price Performance

The business's fifty day moving average is $25.70 and its 200-day moving average is $24.71. The firm has a market cap of $993.86 million, a PE ratio of -66.74 and a beta of -0.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 1.17.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The firm had revenue of $78.09 million during the quarter, compared to analysts' expectations of $78.10 million. Nayax had a negative return on equity of 11.18% and a negative net margin of 5.34%. During the same period in the prior year, the business earned ($0.12) earnings per share. On average, research analysts predict that Nayax Ltd. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hood River Capital Management LLC bought a new stake in shares of Nayax during the 1st quarter valued at about $102,000. Swedbank AB bought a new stake in Nayax during the first quarter worth about $2,620,000. Baillie Gifford & Co. raised its stake in shares of Nayax by 1.2% during the second quarter. Baillie Gifford & Co. now owns 50,086 shares of the company's stock worth $1,072,000 after acquiring an additional 616 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Nayax in the second quarter worth $1,673,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nayax by 16.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company's stock valued at $168,000 after acquiring an additional 1,099 shares during the last quarter. 34.87% of the stock is 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.