Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Time to Buy?

Nayax Ltd. (NASDAQ:NYAX) shares saw unusually-high trading volume on Monday . Approximately 31,893 shares traded hands during mid-day trading, an increase of 193% from the previous session’s volume of 10,884 shares.The stock last traded at $40.50 and had previously closed at $41.50.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NYAX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nayax in a research report on Wednesday, October 8th. UBS Group raised their price target on Nayax from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.67.

Nayax Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 70.03 and a beta of 0.20. The stock’s fifty day moving average price is $45.89 and its two-hundred day moving average price is $45.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Nayax by 210.5% during the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. Osaic Holdings Inc. bought a new stake in Nayax in the second quarter valued at $33,000. Bank of America Corp DE boosted its holdings in shares of Nayax by 254.9% during the third quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock valued at $63,000 after acquiring an additional 956 shares during the period. Alliancebernstein L.P. acquired a new stake in shares of Nayax in the 3rd quarter worth about $128,000. Finally, Ascent Group LLC bought a new stake in Nayax in the 2nd quarter valued at about $220,000. 34.87% of the stock is owned by institutional investors and hedge funds.

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.