Nayax (NASDAQ:NYAX) Sees Large Volume Increase - Here's What Happened

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw strong trading volume on Monday . 3,844 shares changed hands during mid-day trading, a decline of 50% from the previous session's volume of 7,689 shares.The stock last traded at $37.73 and had previously closed at $39.35.

Analysts Set New Price Targets

Several brokerages have commented on NYAX. William Blair upgraded shares of Nayax from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods increased their price target on shares of Nayax from $33.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday, March 6th. Finally, B. Riley reaffirmed a "buy" rating and set a $44.00 price objective (up from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $34.75.

Nayax Stock Performance

The company has a market capitalization of $1.47 billion, a P/E ratio of -133.32 and a beta of 0.23. The company's 50 day moving average is $36.49 and its 200-day moving average is $32.80. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Nayax

Large investors have recently made changes to their positions in the business. Y.D. More Investments Ltd increased its position in Nayax by 42.7% during the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company's stock valued at $34,630,000 after buying an additional 354,350 shares in the last quarter. Swedbank AB increased its holdings in shares of Nayax by 44.5% during the fourth quarter. Swedbank AB now owns 300,000 shares of the company's stock valued at $8,748,000 after acquiring an additional 92,441 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Nayax during the fourth quarter valued at $1,581,000. Jane Street Group LLC purchased a new position in shares of Nayax in the 4th quarter worth about $351,000. Finally, Verdence Capital Advisors LLC bought a new position in Nayax in the 4th quarter worth about $326,000. 34.87% of the stock is currently owned by hedge funds and other institutional investors.

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.