Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Nayax Ltd. experienced a notable increase in trading volume, with 11,870 shares traded, reflecting a 6% rise from the previous session.
• Analysts have mixed ratings on Nayax, with three firms issuing a "Buy" rating and others maintaining a "Hold," leading to a consensus target price of $42.00.
• Despite reporting earnings per share of $0.16, Nayax fell short of revenue expectations with $95.59 million, compared to the consensus estimate of $99.16 million.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) saw an uptick in trading volume on Thursday . 11,870 shares were traded during mid-day trading, an increase of 6% from the previous session's volume of 11,238 shares.The stock last traded at $50.84 and had previously closed at $50.25.

Analysts Set New Price Targets

Several research firms have recently weighed in on NYAX. Wall Street Zen cut Nayax from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. B. Riley reiterated a "buy" rating and set a $47.00 price objective (up previously from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods boosted their price target on Nayax from $40.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, UBS Group boosted their price target on Nayax from $39.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $42.00.

Nayax Trading Up 1.1%

The company has a current ratio of 1.68, a quick ratio of 1.59 and a debt-to-equity ratio of 0.77. The stock has a 50-day simple moving average of $46.06 and a two-hundred day simple moving average of $42.20. The firm has a market capitalization of $1.80 billion, a P/E ratio of 89.12 and a beta of 0.23.

Nayax (NASDAQ:NYAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.06. The business had revenue of $95.59 million for the quarter, compared to the consensus estimate of $99.16 million. Nayax had a return on equity of 5.32% and a net margin of 6.06%. Nayax has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Nayax Ltd. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Nayax

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new position in Nayax in the 2nd quarter worth about $33,000. Bosun Asset Management LLC increased its holdings in shares of Nayax by 28.8% in the second quarter. Bosun Asset Management LLC now owns 12,634 shares of the company's stock valued at $635,000 after purchasing an additional 2,828 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Nayax in the second quarter valued at approximately $2,649,000. Russell Investments Group Ltd. increased its holdings in shares of Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Nayax by 18.6% in the second quarter. Legal & General Group Plc now owns 14,087 shares of the company's stock worth $711,000 after acquiring an additional 2,214 shares during the period. Institutional investors and hedge funds own 34.87% of the company's stock.

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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