Nayax (NASDAQ:NYAX) Stock Price Up 4% – Still a Buy?

Nayax Ltd. (NASDAQ:NYAX)’s stock price was up 4% on Thursday . The company traded as high as $34.76 and last traded at $34.96. Approximately 993 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 7,844 shares. The stock had previously closed at $33.62.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NYAX. B. Riley reissued a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their target price on Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.75.

Nayax Trading Down 3.1 %

The firm has a 50 day simple moving average of $36.86 and a 200 day simple moving average of $31.07. The company has a current ratio of 1.25, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.20 billion, a PE ratio of -109.51 and a beta of 0.08.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Y.D. More Investments Ltd lifted its holdings in Nayax by 42.7% in the fourth quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after acquiring an additional 354,350 shares during the period. Swedbank AB grew its position in Nayax by 44.5% during the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock valued at $8,748,000 after buying an additional 92,441 shares during the period. Azora Capital LP increased its holdings in Nayax by 4.9% during the third quarter. Azora Capital LP now owns 100,685 shares of the company’s stock valued at $2,583,000 after buying an additional 4,724 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Nayax in the fourth quarter worth approximately $1,581,000. Finally, Baillie Gifford & Co. boosted its stake in shares of Nayax by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 51,247 shares of the company’s stock worth $1,517,000 after acquiring an additional 1,161 shares during the last quarter. 34.87% of the stock is owned by hedge funds and other institutional investors.

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.