Nayax (NASDAQ:NYAX) Sets New 52-Week High - Here's Why

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $46.27 and last traded at $45.04, with a volume of 7292 shares. The stock had previously closed at $45.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Nayax from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. William Blair raised shares of Nayax from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods raised their target price on shares of Nayax from $38.00 to $40.00 and gave the stock a "market perform" rating in a report on Wednesday, May 14th. Finally, B. Riley reaffirmed a "buy" rating and set a $47.00 price target (up from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Nayax presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Nayax Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.67 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.68 billion, a P/E ratio of 263.13 and a beta of 0.18. The stock has a 50 day moving average of $42.08 and a 200-day moving average of $36.95.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $81.11 million during the quarter, compared to analysts' expectations of $85.08 million. Nayax had a return on equity of 0.23% and a net margin of 1.96%. On average, equities research analysts anticipate that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYAX. Bank of America Corp DE increased its position in shares of Nayax by 920.4% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after acquiring an additional 1,353 shares during the period. Citadel Advisors LLC bought a new position in Nayax in the fourth quarter worth approximately $217,000. Bosun Asset Management LLC purchased a new position in Nayax during the 1st quarter worth $332,000. Verdence Capital Advisors LLC purchased a new position in Nayax during the 4th quarter worth $326,000. Finally, Jane Street Group LLC bought a new stake in Nayax during the 4th quarter valued at $351,000. Institutional investors own 34.87% of the company's stock.

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.