Nayax (NASDAQ:NYAX) Trading 7.4% Higher After Analyst Upgrade

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s share price traded up 7.4% during mid-day trading on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $33.00 to $38.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Nayax traded as high as $36.36 and last traded at $38.03. 13,490 shares changed hands during mid-day trading, an increase of 69% from the average session volume of 7,992 shares. The stock had previously closed at $35.42.

Separately, B. Riley reissued a "buy" rating and set a $44.00 target price (up from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.75.

Institutional Investors Weigh In On Nayax

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Nayax by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 27,976 shares of the company's stock valued at $828,000 after acquiring an additional 650 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Nayax by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 51,247 shares of the company's stock valued at $1,517,000 after acquiring an additional 1,161 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $44,000 after acquiring an additional 1,353 shares in the last quarter. Barclays PLC increased its stake in 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 buying an additional 2,266 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Nayax in the 3rd quarter valued at approximately $69,000. Hedge funds and other institutional investors own 34.87% of the company's stock.

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Nayax Trading Down 2.1 %

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -113.10 and a beta of 0.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The company's 50 day simple moving average is $36.25 and its two-hundred day simple moving average is $30.06.

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.