Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Unusually high trading volume: 15,232 shares traded (a 27% increase from the prior session) with the stock last at $60.48, roughly a 0.4% intraday gain.
• Mixed analyst outlook but consensus "Hold": three Buy, three Hold and one Sell produce an average rating of Hold and an average price target of $51.67, though some firms have raised targets (Keefe, Bruyette & Woods to $60) and William Blair maintains an Outperform.
• Notable institutional buying and company metrics: Vanguard and other institutions materially increased stakes (Vanguard added ~535,476 shares), institutional ownership is ~34.87%, and the company has a market cap of ~$2.19B with a P/E of ~63.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw strong trading volume on Monday . 15,232 shares traded hands during mid-day trading, an increase of 27% from the previous session's volume of 11,960 shares.The stock last traded at $60.48 and had previously closed at $59.69.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a report on Monday, January 19th. Keefe, Bruyette & Woods lifted their price objective on Nayax from $52.00 to $60.00 and gave the stock a "market perform" rating in a report on Tuesday, March 10th. Wall Street Zen downgraded Nayax from a "buy" rating to a "hold" rating in a research report on Saturday, November 22nd. UBS Group raised their price target on Nayax from $43.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, November 21st. Finally, William Blair reiterated an "outperform" rating on shares of Nayax in a research report on Monday, March 9th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nayax presently has an average rating of "Hold" and an average price target of $51.67.

Nayax Trading Up 0.4%

The business has a fifty day simple moving average of $56.24 and a 200 day simple moving average of $49.79. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 63.05 and a beta of 0.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.16 and a current ratio of 2.26.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd lifted its holdings in Nayax by 6.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company's stock valued at $59,025,000 after purchasing an additional 72,751 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Nayax by 4,022.5% during the third quarter. Vanguard Group Inc. now owns 548,788 shares of the company's stock worth $26,210,000 after buying an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock valued at $9,966,000 after buying an additional 89,886 shares during the last quarter. AltraVue Capital LLC purchased a new position in shares of Nayax during the fourth quarter valued at approximately $11,623,000. Finally, Assenagon Asset Management S.A. boosted its position in Nayax by 57.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 198,714 shares of the company's stock worth $10,044,000 after acquiring an additional 72,354 shares during the last quarter. Institutional investors and hedge funds own 34.87% of the company's stock.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.

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