Nayax (NASDAQ:NYAX) Sees Strong Trading Volume - Still a Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw unusually-high trading volume on Monday . Approximately 3,844 shares traded hands during trading, a decline of 50% from the previous session's volume of 7,689 shares.The stock last traded at $37.73 and had previously closed at $39.35.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NYAX. B. Riley reaffirmed a "buy" rating and set a $44.00 target price (up from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price objective on shares of Nayax from $33.00 to $38.00 and gave the stock a "market perform" rating in a research note on Thursday, March 6th. Finally, William Blair raised shares of Nayax from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $34.75.

Nayax Stock Up 0.1 %

The business has a 50 day moving average of $36.49 and a two-hundred day moving average of $32.80. 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 stock has a market capitalization of $1.47 billion, a PE ratio of -133.32 and a beta of 0.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in Nayax in the fourth quarter valued at approximately $217,000. Bank of America Corp DE increased 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 valued at $44,000 after buying an additional 1,353 shares in the last quarter. Jane Street Group LLC acquired a new stake in Nayax in the fourth quarter worth about $351,000. Hood River Capital Management LLC grew its stake in shares of Nayax by 144.6% during the fourth quarter. Hood River Capital Management LLC now owns 14,118 shares of the company's stock worth $412,000 after acquiring an additional 8,346 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 purchasing an additional 650 shares during the last quarter. Hedge funds and other 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.