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

Nayax Ltd. (NASDAQ:NYAX) shares saw unusually-strong trading volume on Monday . Approximately 9,643 shares were traded during mid-day trading, an increase of 21% from the previous session’s volume of 7,948 shares.The stock last traded at $41.15 and had previously closed at $41.32.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $47.00 target price (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods increased their price objective on Nayax from $38.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 14th. William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 1st. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nayax in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Nayax Stock Performance

The stock has a fifty day moving average price of $37.90 and a 200 day moving average price of $34.53. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -136.19 and a beta of 0.13.

Nayax (NASDAQ:NYAX) last announced its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The company had revenue of $81.11 million for the quarter, compared to the consensus estimate of $85.08 million. As a group, analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares during the period. Barclays PLC lifted its position in shares of Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after purchasing an additional 2,266 shares during the last quarter. Citadel Advisors LLC bought a new stake in Nayax during the 4th quarter valued at approximately $217,000. Verdence Capital Advisors LLC acquired a new stake in Nayax in the 4th quarter valued at approximately $326,000. Finally, Bosun Asset Management LLC acquired a new stake in Nayax in the 1st quarter valued at approximately $332,000. 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.