Nayax (NASDAQ:NYAX) Stock Price Up 7.1% – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NYAX shares. Barclays increased 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. Keefe, Bruyette & Woods raised their price objective on Nayax from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. B. Riley started coverage on Nayax in a report on Tuesday, November 19th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Jefferies Financial Group upgraded Nayax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company 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 company has a 50-day moving average price of $30.36 and a 200 day moving average price of $26.94.

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

Hedge Funds Weigh In On Nayax

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB lifted its position in Nayax by 107.6% during the third quarter. Swedbank AB now owns 207,559 shares of the company’s stock valued at $5,233,000 after purchasing an additional 107,559 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Nayax by 184.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 177,874 shares of the company’s stock valued at $4,638,000 after buying an additional 115,262 shares during the last quarter. Barclays PLC lifted its holdings in shares of Nayax by 5,526.8% in the 3rd quarter. Barclays PLC now owns 2,307 shares of the company’s stock valued at $58,000 after buying an additional 2,266 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Nayax in the third quarter worth about $69,000. Finally, Azora Capital LP boosted its position in Nayax by 4.9% in the 3rd quarter. Azora Capital LP now owns 100,685 shares of the company’s stock worth $2,583,000 after purchasing an additional 4,724 shares in the last quarter. 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.