Nayax (NASDAQ:NYAX) Sees Unusually-High Trading Volume – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX) saw an uptick in trading volume on Wednesday . 31,517 shares were traded during mid-day trading, an increase of 276% from the previous session’s volume of 8,383 shares.The stock last traded at $27.00 and had previously closed at $26.23.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NYAX. Oppenheimer started coverage on shares of Nayax in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Keefe, Bruyette & Woods lowered their price objective 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. Jefferies Financial Group raised Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their target price on Nayax from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.33.

Nayax Stock Up 6.7 %

The business has a 50-day moving average of $26.16 and a 200-day moving average of $24.80. 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 market capitalization of $992.88 million, a price-to-earnings ratio of -90.32 and a beta of -0.08.

Institutional Trading of Nayax

A number of hedge funds and other institutional investors have recently modified their holdings of NYAX. Y.D. More Investments Ltd acquired a new stake in shares of Nayax during the 2nd quarter worth about $14,790,000. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 115,262 shares during the last quarter. Swedbank AB raised its position in 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 acquiring an additional 107,559 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Nayax during the second quarter valued at $1,673,000. Finally, Altshuler Shaham Ltd purchased a new position in Nayax during the second quarter worth about $1,010,000. 34.87% of the stock is 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.