Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Should You Buy?

Shares of Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Monday . 19,422 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 20,036 shares.The stock last traded at $45.8450 and had previously closed at $47.20.

Analysts Set New Price Targets

A number of research firms have commented on NYAX. Barclays cut their target price on shares of Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Keefe, Bruyette & Woods upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Friday, August 14th. Weiss Ratings raised Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Oppenheimer upgraded Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nayax has a consensus rating of “Hold” and an average target price of $75.76.

Nayax Trading Down 2.0%

The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 214.86 and a beta of 0.43. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 1.43. The company’s 50 day simple moving average is $58.10 and its two-hundred day simple moving average is $61.77.

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

Insider Buying and Selling at Nayax

In related news, CFO Sagit Manor sold 1,252 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the transaction, the chief financial officer directly owned 45,238 shares of the company’s stock, valued at $3,019,184.12. This represents a 2.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eden Zafrani sold 500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the transaction, the insider directly owned 14,869 shares in the company, valued at $964,849.41. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,213 shares of company stock worth $205,569.

Hedge Funds Weigh In On Nayax

Several hedge funds have recently modified their holdings of NYAX. Tidal Investments LLC purchased a new stake in Nayax during the 2nd quarter worth approximately $650,000. Public Employees Retirement System of Ohio purchased a new position in shares of Nayax in the second quarter worth $239,000. Bank of America Corp DE raised its holdings in shares of Nayax by 1,607.2% in the first quarter. Bank of America Corp DE now owns 9,270 shares of the company’s stock worth $519,000 after buying an additional 8,727 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Nayax by 5.0% during the first quarter. Altshuler Shaham Ltd now owns 36,220 shares of the company’s stock worth $2,026,000 after buying an additional 1,731 shares during the period. Finally, Y.D. More Investments Ltd lifted its stake in shares of Nayax by 3.1% during the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company’s stock worth $48,387,000 after buying an additional 25,694 shares during the period. Institutional investors and hedge funds own 34.87% of the company’s stock.

Nayax Company Profile

Nayax Ltd. (NASDAQ: NYAX) is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company’s products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.