Nayax (NASDAQ:NYAX) Sees Large Volume Increase - Time to Buy?

Key Points

• Nayax shares saw a 381% surge in trading volume, with approximately 92,757 shares changing hands, while the stock traded around $51.51, down 1.6% from its prior close.
• Analyst sentiment remains mixed: four analysts rate the stock a Buy, three recommend Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $75.76.
• Nayax exceeded quarterly expectations, reporting $0.14 in EPS versus $0.09 expected and revenue of $122.59 million versus estimates of $116.75 million. Insiders sold 3,148 shares worth about $202,201 over the past 90 days.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 92,757 shares were traded during mid-day trading, an increase of 381% from the previous session's volume of 19,270 shares.The stock last traded at $51.5050 and had previously closed at $52.24.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NYAX shares. Keefe, Bruyette & Woods raised shares of Nayax from a "market perform" rating to an "outperform" rating and set a $75.00 target price on the stock in a research report on Friday, August 14th. Oppenheimer raised shares of Nayax from a "market perform" rating to an "outperform" rating and set a $86.00 price objective for the company in a research note on Wednesday, May 27th. UBS Group reiterated a "neutral" rating and set a $70.00 price objective on shares of Nayax in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Nayax from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Finally, Barclays cut their target price on shares of Nayax from $75.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nayax has a consensus rating of "Hold" and a consensus price target of $75.76.

Nayax Trading Down 1.6%

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 244.88 and a beta of 0.43. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.03 and a current ratio of 2.12. The company's 50 day simple moving average is $60.61 and its two-hundred day simple moving average is $62.02.

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

Insider Transactions at Nayax

In other news, CFO Sagit Manor sold 1,252 shares of Nayax stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $66.74, for a total transaction of $83,558.48. Following the completion of the sale, the chief financial officer directly owned 45,238 shares in the company, valued at $3,019,184.12. The trade was a 2.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 that occurred on Tuesday, June 30th. The shares were sold at an average price of $64.89, for a total value of $32,445.00. Following the completion of the sale, the insider directly owned 14,869 shares of the company's stock, valued at approximately $964,849.41. The trade was a 3.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,148 shares of company stock worth $202,201 in the last 90 days.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of Nayax by 210.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company's stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Nayax in the 2nd quarter valued at $33,000. Bank of America Corp DE lifted its stake in shares of Nayax by 254.9% in the 3rd quarter. Bank of America Corp DE now owns 1,331 shares of the company's stock valued at $63,000 after purchasing an additional 956 shares during the last quarter. Smartleaf Asset Management LLC bought a new stake in Nayax in the fourth quarter worth $69,000. Finally, Alliancebernstein L.P. bought a new stake in Nayax in the third quarter worth $128,000. Institutional investors own 34.87% of the company's stock.

About Nayax

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.

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