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

Key Points

• Nayax shares declined 3% to $45.845 during mid-day trading, while trading volume reached 19,422 shares. The stock remains below its 50-day and 200-day moving averages of $59.03 and $61.85, respectively.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with an average price target of $75.76. Recent changes included Barclays lowering its target to $68 and Oppenheimer upgrading the stock to “Outperform” with an $86 target.
• Nayax exceeded quarterly expectations, reporting $0.14 in EPS versus a $0.09 estimate and $122.59 million in revenue versus a $116.75 million consensus. Insiders have sold 3,213 shares worth approximately $205,569 over the past 90 days.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares saw an uptick in trading volume on Monday . 19,422 shares changed hands during mid-day trading, a decline of 3% from the previous session's volume of 20,036 shares.The stock last traded at $45.8450 and had previously closed at $47.20.

Analyst Ratings Changes

Several equities analysts have weighed in on NYAX shares. UBS Group restated a "neutral" rating and set a $70.00 target price on shares of Nayax in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Barclays dropped their price objective on shares of Nayax from $75.00 to $68.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 11th. Zacks Research upgraded Nayax from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 1st. Finally, Oppenheimer upgraded Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 target price on the stock in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $75.76.

Nayax Price Performance

The company has a 50-day moving average of $59.03 and a two-hundred day moving average of $61.85. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03. The stock has a market capitalization of $1.69 billion, a PE ratio of 220.10 and a beta of 0.43.

Nayax (NASDAQ:NYAX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $122.59 million during the quarter, compared to analysts' expectations of $116.75 million. Nayax had a return on equity of 10.45% and a net margin of 1.74%. Sell-side analysts predict that Nayax Ltd. will post 0.75 EPS for the current fiscal year.

Insider Activity at Nayax

In other Nayax news, CFO Sagit Manor sold 1,252 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $66.74, for a total transaction of $83,558.48. Following the transaction, the chief financial officer owned 45,238 shares of the company's stock, valued at $3,019,184.12. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eden Zafrani sold 500 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total transaction of $32,445.00. Following the sale, the insider directly owned 14,869 shares of the company's stock, valued at $964,849.41. This represents a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,213 shares of company stock valued at $205,569 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd increased its position in shares of Nayax by 3.1% in the first quarter. Y.D. More Investments Ltd now owns 865,171 shares of the company's stock worth $48,387,000 after acquiring an additional 25,694 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nayax by 4,022.5% during the 3rd quarter. Vanguard Group Inc. now owns 548,788 shares of the company's stock valued at $26,210,000 after acquiring an additional 535,476 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Nayax by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock worth $9,966,000 after purchasing an additional 89,886 shares during the period. Assenagon Asset Management S.A. boosted its position in Nayax by 36.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 271,071 shares of the company's stock worth $15,195,000 after purchasing an additional 72,357 shares during the period. Finally, AltraVue Capital LLC acquired a new stake in Nayax in the 4th quarter valued at $11,623,000. 34.87% of the stock is owned by institutional investors and hedge funds.

Nayax Company Profile

Nayax Ltd. NASDAQ: NYAX is a global financial technology and commerce enablement company that provides payment processing, management software and business intelligence solutions for unattended and self-service markets. Its platform helps businesses accept and manage cashless transactions while monitoring equipment, customer activity and operational performance.

The company's products and services are used across industries including vending, electric vehicle charging, fuel and convenience retail, parking, laundromats, hospitality and other automated retail environments.

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