Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) saw strong trading volume on Tuesday . 12,959 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 7,258 shares.The stock last traded at $58.9450 and had previously closed at $58.27.

Analysts Set New Price Targets

NYAX has been the subject of several recent research reports. Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. UBS Group increased their target price on Nayax from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, November 21st. Wall Street Zen cut Nayax from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their target price on Nayax from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Friday, January 2nd. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nayax has a consensus rating of “Hold” and an average target price of $49.00.

Nayax Trading Up 1.7%

The business’s 50 day simple moving average is $49.77 and its 200 day simple moving average is $47.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.62. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 92.58 and a beta of 0.14.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.12). Nayax had a net margin of 6.49% and a return on equity of 6.51%. The company had revenue of $104.28 million for the quarter, compared to analysts’ expectations of $109.51 million. Research analysts anticipate that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in NYAX. Vanguard Group Inc. lifted its holdings in Nayax by 4,022.5% in the third quarter. Vanguard Group Inc. now owns 548,788 shares of the company’s stock valued at $26,210,000 after acquiring an additional 535,476 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Nayax by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock worth $9,966,000 after buying an additional 89,886 shares in the last quarter. Y.D. More Investments Ltd grew its position in Nayax by 6.6% during the second quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company’s stock worth $59,025,000 after buying an additional 72,751 shares during the period. Assenagon Asset Management S.A. increased its holdings in Nayax by 57.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company’s stock valued at $10,044,000 after buying an additional 72,354 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Nayax during the 2nd quarter valued at approximately $2,649,000. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.