Nayax (NASDAQ:NYAX) Shares Gap Up – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) gapped up prior to trading on Tuesday . The stock had previously closed at $37.32, but opened at $39.86. Nayax shares last traded at $40.27, with a volume of 2,518 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 1st. B. Riley reissued a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods lifted their target price on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $34.75.

Nayax Trading Up 7.7 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -129.69 and a beta of 0.23. The firm’s 50-day simple moving average is $36.42 and its 200 day simple moving average is $32.47.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Y.D. More Investments Ltd increased its holdings in Nayax by 42.7% in the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock worth $34,630,000 after purchasing an additional 354,350 shares in the last quarter. Swedbank AB increased its position in Nayax by 44.5% in the 4th quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after acquiring an additional 92,441 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Nayax during the fourth quarter worth $1,581,000. Baillie Gifford & Co. raised its position in Nayax by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock worth $1,517,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Nayax by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 27,976 shares of the company’s stock valued at $828,000 after buying an additional 650 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors.

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.