Nayax (NASDAQ:NYAX) Trading 6.9% Higher - Should You Buy?

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares shot up 6.9% during mid-day trading on Friday . The stock traded as high as $45.68 and last traded at $48.56. 130 shares were traded during mid-day trading, a decline of 99% from the average session volume of 11,437 shares. The stock had previously closed at $45.44.

Analysts Set New Price Targets

Several research firms have recently commented on NYAX. Keefe, Bruyette & Woods lifted their target price on Nayax from $40.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th. B. Riley reissued a "buy" rating and issued a $47.00 target price (up from $44.00) on shares of Nayax in a research note on Wednesday, May 14th. William Blair raised Nayax from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 1st. Wall Street Zen cut Nayax from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Nayax in a research note on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Nayax Trading Up 1.5%

The business has a 50 day moving average of $44.86 and a 200 day moving average of $39.72. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.76 and a quick ratio of 1.67. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 254.79 and a beta of 0.24.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Nayax had a net margin of 1.96% and a return on equity of 0.23%. The business had revenue of $81.11 million during the quarter, compared to analyst estimates of $85.08 million. As a group, research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Nayax by 920.4% during the fourth 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 period. Citadel Advisors LLC acquired a new position in shares of Nayax during the fourth quarter worth about $217,000. Bosun Asset Management LLC acquired a new position in shares of Nayax during the first quarter worth about $332,000. Jane Street Group LLC acquired a new position in shares of Nayax during the fourth quarter worth about $351,000. Finally, Hood River Capital Management LLC boosted its position 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 buying an additional 8,346 shares during the period. 34.87% of the stock is owned by institutional investors and hedge funds.

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.