Nayax (NASDAQ:NYAX) Sees Strong Trading Volume - Here's What Happened

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares saw strong trading volume on Monday . 13,592 shares were traded during trading, an increase of 45% from the previous session's volume of 9,383 shares.The stock last traded at $44.36 and had previously closed at $42.76.

Analysts Set New Price Targets

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

Nayax Trading Up 1.6%

The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 253.57 and a beta of 0.18. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.67 and a current ratio of 1.76. The business has a 50-day moving average of $41.63 and a 200-day moving average of $36.70.

Nayax (NASDAQ:NYAX - Get Free Report) 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). The firm had revenue of $81.11 million during the quarter, compared to analyst estimates of $85.08 million. Nayax had a net margin of 1.96% and a return on equity of 0.23%. As a group, research analysts forecast that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Trading of Nayax

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Nayax by 920.4% during the 4th 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 acquired a new stake in Nayax during the 4th quarter worth approximately $217,000. Bosun Asset Management LLC acquired a new stake in Nayax during the 1st quarter worth approximately $332,000. Verdence Capital Advisors LLC acquired a new stake in Nayax during the 4th quarter worth approximately $326,000. Finally, Jane Street Group LLC acquired a new stake in Nayax during the 4th quarter worth approximately $351,000. 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.