Nayax (NASDAQ:NYAX) Sees Strong Trading Volume

Nayax Ltd. (NASDAQ:NYAX) shares saw an uptick in trading volume on Thursday . 19,514 shares were traded during trading, an increase of 128% from the previous session’s volume of 8,541 shares.The stock last traded at $21.80 and had previously closed at $23.30.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NYAX. UBS Group began coverage on shares of Nayax in a research report on Monday, April 29th. They set a “neutral” rating and a $29.00 target price on the stock. Barclays started coverage on shares of Nayax in a report on Wednesday, May 22nd. They set an “equal weight” rating and a $27.00 price target for the company. Finally, Keefe, Bruyette & Woods started coverage on shares of Nayax in a report on Monday, June 17th. They set a “market perform” rating and a $27.00 price target for the company.

Nayax Stock Up 3.4 %

The stock’s fifty day moving average price is $25.53 and its two-hundred day moving average price is $24.30. The company has a current ratio of 1.36, a quick ratio of 1.27 and a debt-to-equity ratio of 0.22.

Nayax (NASDAQ:NYAX) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.13). Nayax had a negative return on equity of 13.46% and a negative net margin of 6.20%. The firm had revenue of $63.96 million for the quarter, compared to the consensus estimate of $70.93 million. On average, research analysts forecast that Nayax Ltd. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

Several institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Assenagon Asset Management S.A. lifted its stake in Nayax by 152.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 62,612 shares of the company’s stock valued at $1,655,000 after purchasing an additional 37,853 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Nayax in the 1st quarter valued at approximately $9,170,000. Baillie Gifford & Co. bought a new position in Nayax in the 1st quarter valued at approximately $1,302,000. Hood River Capital Management LLC bought a new position in Nayax in the 1st quarter valued at approximately $102,000. Finally, Swedbank AB bought a new position in Nayax in the 1st quarter valued at approximately $2,620,000. Institutional investors own 34.87% of the company’s stock.

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.