Nayax (NASDAQ:NYAX) Sees Large Volume Increase - Here's Why

Shares of Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 29,821 shares changed hands during trading, an increase of 248% from the previous session's volume of 8,580 shares.The stock last traded at $44.68 and had previously closed at $44.70.

Analysts Set New Price Targets

NYAX has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Nayax in a research report on Tuesday, May 13th. William Blair raised Nayax from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 1st. Wall Street Zen cut shares of Nayax from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. B. Riley reaffirmed a "buy" rating and set a $47.00 price target (up previously from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Nayax from $38.00 to $40.00 and gave the company a "market perform" rating in a report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and four have assigned 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 Stock Up 1.4%

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -144.45 and a beta of 0.18. 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 50-day moving average of $39.95 and a 200 day moving average of $35.73.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly 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). Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The business had revenue of $81.11 million for the quarter, compared to analyst estimates of $85.08 million. As a group, sell-side analysts forecast that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% in 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. Citadel Advisors LLC bought a new position in Nayax in the 4th quarter valued at about $217,000. Verdence Capital Advisors LLC acquired a new position in shares of Nayax in the 4th quarter valued at approximately $326,000. Bosun Asset Management LLC bought a new position in Nayax in the first quarter valued at approximately $332,000. Finally, Jane Street Group LLC acquired a new position in Nayax during the fourth quarter valued at approximately $351,000. Institutional investors and hedge funds 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.