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

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) shares saw strong trading volume on Thursday . 11,870 shares changed hands during 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group increased their target price on shares of Nayax from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Wall Street Zen cut shares of Nayax from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Nayax from $40.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Nayax currently has an average rating of "Hold" and a consensus price target of $42.00.

Nayax Stock Performance

The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 84.65 and a beta of 0.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.59 and a current ratio of 1.68. The company's 50 day simple moving average is $46.08 and its 200 day simple moving average is $42.51.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $95.59 million for the quarter, compared to analysts' expectations of $99.16 million. Nayax had a net margin of 6.06% and a return on equity of 5.32%. 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

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock valued at $30,000 after purchasing an additional 400 shares in the last quarter. Osaic Holdings Inc. bought a new position in shares of Nayax during the 2nd quarter valued at about $33,000. Bank of America Corp DE boosted its position in shares of 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 purchasing an additional 1,353 shares in the last quarter. Ascent Group LLC bought a new position in shares of Nayax during the 2nd quarter valued at about $220,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Nayax during the 2nd quarter valued at about $340,000. Institutional investors 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.