Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – What’s Next?

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Wednesday . 12,633 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 19,487 shares.The stock last traded at $54.6220 and had previously closed at $51.89.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and set a $70.00 price objective on shares of Nayax in a report on Tuesday, August 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $79.80 target price on shares of Nayax in a research note on Thursday, May 14th. Wall Street Zen downgraded Nayax from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price target for the company in a report on Wednesday, May 27th. Finally, Zacks Research raised shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.76.

Nayax Trading Down 3.4%

The company has a market capitalization of $1.91 billion, a PE ratio of 248.57 and a beta of 0.47. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. The business has a fifty day moving average price of $62.38 and a 200 day moving average price of $62.26.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, August 11th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Nayax had a return on equity of 10.45% and a net margin of 1.74%.The business had revenue of $122.59 million during the quarter, compared to analysts’ expectations of $116.75 million. Analysts expect that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity at Nayax

In other news, insider Eden Zafrani sold 500 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the completion of the sale, the insider owned 14,869 shares of the company’s stock, valued at $964,849.41. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oren Tepper sold 1,052 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.31, for a total transaction of $77,122.12. Following the completion of the transaction, the insider directly owned 19,392 shares in the company, valued at approximately $1,421,627.52. This represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 7,462 shares of company stock valued at $518,617 over the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Nayax during the second quarter worth about $239,000. Bank of America Corp DE raised its holdings in shares of Nayax by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock valued at $519,000 after buying an additional 8,727 shares during the period. Altshuler Shaham Ltd raised its holdings in shares of Nayax by 5.0% during the 1st quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock valued at $2,026,000 after buying an additional 1,731 shares during the period. Y.D. More Investments Ltd lifted its position in Nayax by 3.1% during the 1st quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company’s stock worth $15,195,000 after acquiring an additional 72,357 shares in the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.