Nayax (NASDAQ:NYAX) Sees Strong Trading Volume – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Friday . Approximately 32,048 shares traded hands during trading, an increase of 288% from the previous session’s volume of 8,252 shares.The stock last traded at $26.62 and had previously closed at $26.38.

Wall Street Analyst Weigh In

NYAX has been the topic of several research analyst reports. Barclays upped their price objective on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Oppenheimer initiated coverage on shares of Nayax in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Nayax from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Thursday, August 8th.

Nayax Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.17 and a current ratio of 1.25. The stock has a 50-day moving average of $24.62 and a two-hundred day moving average of $24.51. The company has a market cap of $862.23 million, a P/E ratio of -57.34 and a beta of 0.03.

Nayax (NASDAQ:NYAX) last released its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Nayax had a negative net margin of 5.34% and a negative return on equity of 11.18%. The business had revenue of $78.09 million for the quarter, compared to the consensus estimate of $78.10 million. During the same period in the prior year, the business posted ($0.12) EPS. On average, research analysts anticipate that Nayax Ltd. will post -0.12 EPS for the current fiscal year.

Institutional Trading of Nayax

Several hedge funds and other institutional investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd bought a new stake in Nayax during the 2nd quarter valued at $14,790,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Nayax during the first quarter worth about $9,170,000. Swedbank AB grew its stake in shares of Nayax by 107.6% in the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock worth $5,233,000 after purchasing an additional 107,559 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Nayax in the second quarter worth about $1,673,000. Finally, Baillie Gifford & Co. increased its holdings in Nayax by 1.2% during the 2nd quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock valued at $1,072,000 after purchasing an additional 616 shares during the period. 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.