Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Wednesday . 19,575 shares traded hands during trading, an increase of 134% from the previous session’s volume of 8,371 shares.The stock last traded at $29.30 and had previously closed at $28.41.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NYAX shares. Oppenheimer started coverage on shares of Nayax in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Jefferies Financial Group raised shares of Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays boosted their target price on shares of Nayax from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods cut their target price on Nayax from $27.00 to $25.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nayax currently has a consensus rating of “Hold” and an average target price of $27.33.

Nayax Trading Up 2.5 %

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -68.88 and a beta of 0.03. The firm’s 50 day moving average is $25.38 and its two-hundred day moving average is $24.63. The company has a quick ratio of 1.17, a current ratio of 1.25 and a debt-to-equity ratio of 0.26.

Nayax (NASDAQ:NYAX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $78.09 million for the quarter, compared to the consensus estimate of $78.10 million. Nayax had a negative net margin of 5.34% and a negative return on equity of 11.18%. During the same period in the previous year, the firm earned ($0.12) EPS. Equities analysts anticipate that Nayax Ltd. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Nayax

Several hedge funds have recently modified their holdings of NYAX. Hood River Capital Management LLC bought a new position in Nayax during the first quarter valued at about $102,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nayax by 16.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,915 shares of the company’s stock valued at $168,000 after purchasing an additional 1,099 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of Nayax in the 2nd quarter worth approximately $229,000. Altshuler Shaham Ltd acquired a new stake in Nayax during the second quarter valued at approximately $1,010,000. Finally, Baillie Gifford & Co. boosted its holdings in Nayax by 1.2% during the second quarter. Baillie Gifford & Co. now owns 50,086 shares of the company’s stock worth $1,072,000 after buying an additional 616 shares in the last quarter. 34.87% of the stock is currently 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.