Nayax (NASDAQ:NYAX) Hits New 52-Week High - Here's What Happened

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

Analyst Ratings Changes

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

Nayax Stock Down 1.7%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The firm's 50-day simple moving average is $41.25 and its 200 day simple moving average is $36.58. The stock has a market capitalization of $1.59 billion, a P/E ratio of -144.38 and a beta of 0.18.

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

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its stake in Nayax by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 51,247 shares of the company's stock valued at $1,517,000 after acquiring an additional 1,161 shares during the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Nayax during the 4th quarter worth $326,000. JPMorgan Chase & Co. bought a new position in Nayax in the fourth quarter valued at about $1,581,000. Geode Capital Management LLC raised its stake in Nayax by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 27,976 shares of the company's stock worth $828,000 after acquiring an additional 650 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its stake in shares of Nayax by 144.6% in the 4th quarter. Hood River Capital Management LLC now owns 14,118 shares of the company's stock valued at $412,000 after purchasing an additional 8,346 shares in the last quarter. 34.87% of the stock is owned by institutional investors and hedge funds.

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.

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