Nayax (NASDAQ:NYAX) Shares Up 6.2% – Here’s Why

Shares of Nayax Ltd. (NASDAQ:NYAX) traded up 6.2% during mid-day trading on Friday . The company traded as high as $47.97 and last traded at $48.00. 15,033 shares changed hands during trading, a decline of 28% from the average session volume of 20,744 shares. The stock had previously closed at $45.19.

Wall Street Analysts Forecast Growth

NYAX has been the topic of several research analyst reports. UBS Group boosted their price target on Nayax from $43.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, November 21st. Zacks Research downgraded Nayax from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 20th. Wall Street Zen cut Nayax from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Keefe, Bruyette & Woods cut their price target on Nayax from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nayax in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Nayax currently has an average rating of “Hold” and an average target price of $47.33.

Nayax Price Performance

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.62. The firm has a market capitalization of $1.69 billion, a PE ratio of 74.42 and a beta of 0.19. The company has a 50-day moving average price of $44.74 and a 200-day moving average price of $45.63.

Nayax (NASDAQ:NYAX) last announced its earnings results on Wednesday, November 19th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.12). Nayax had a net margin of 6.49% and a return on equity of 6.51%. The firm had revenue of $104.28 million during the quarter, compared to analyst estimates of $109.51 million. Sell-side analysts forecast that Nayax Ltd. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NYAX. Russell Investments Group Ltd. boosted its holdings in shares of Nayax by 210.5% during the second 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. purchased a new position in Nayax during the second quarter worth about $33,000. Bank of America Corp DE boosted its stake in Nayax by 254.9% in the 3rd quarter. Bank of America Corp DE now owns 1,331 shares of the company’s stock worth $63,000 after buying an additional 956 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in Nayax in the 3rd quarter valued at about $128,000. Finally, Ascent Group LLC purchased a new stake in Nayax in the 2nd quarter valued at about $220,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

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.