Nayax (NASDAQ:NYAX) Stock Price Up 7.1% – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX)’s stock price traded up 7.1% during trading on Tuesday . The company traded as high as $35.98 and last traded at $36.41. 1,512 shares changed hands during trading, a decline of 80% from the average session volume of 7,595 shares. The stock had previously closed at $34.00.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NYAX. B. Riley assumed coverage on Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 price objective for the company. Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their target price on shares of Nayax from $28.00 to $30.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Finally, Oppenheimer started coverage on Nayax in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nayax currently has a consensus rating of “Moderate Buy” and an average target price of $31.25.

Nayax Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.16. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -117.19 and a beta of -0.03. The business’s fifty day simple moving average is $30.11 and its 200 day simple moving average is $26.77.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, November 12th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Nayax had a negative return on equity of 7.32% and a negative net margin of 3.62%. The company had revenue of $83.01 million during the quarter, compared to the consensus estimate of $88.40 million. During the same period last year, the business posted ($0.09) EPS. On average, research analysts forecast that Nayax Ltd. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Nayax

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in Nayax by 5,526.8% during the third quarter. Barclays PLC now owns 2,307 shares of the company’s stock worth $58,000 after purchasing an additional 2,266 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Nayax in the third quarter valued at approximately $69,000. ARK Investment Management LLC increased its position in shares of Nayax by 1.7% during the third quarter. ARK Investment Management LLC now owns 86,869 shares of the company’s stock valued at $2,261,000 after acquiring an additional 1,445 shares during the last quarter. Azora Capital LP lifted its holdings in Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after acquiring an additional 4,724 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Nayax by 184.1% during the third quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock worth $4,638,000 after acquiring an additional 115,262 shares during the period. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.