Nayax (NASDAQ:NYAX) Shares Gap Up - Should You Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $36.18, but opened at $37.10. Nayax shares last traded at $39.13, with a volume of 1,237 shares changing hands.

Wall Street Analysts Forecast Growth

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

Nayax Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.34 billion, a P/E ratio of -121.67 and a beta of 0.23. The firm has a fifty day moving average of $36.46 and a 200 day moving average of $32.34.

Institutional Investors Weigh In On Nayax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Nayax by 920.4% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $44,000 after buying an additional 1,353 shares during the last quarter. Barclays PLC increased its position in shares of Nayax by 5,526.8% during the 3rd quarter. Barclays PLC now owns 2,307 shares of the company's stock valued at $58,000 after purchasing an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Nayax in the 3rd quarter worth approximately $69,000. Citadel Advisors LLC bought a new stake in Nayax during the fourth quarter valued at approximately $217,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Nayax during the 4th quarter valued at approximately $326,000. 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.