Nayax (NASDAQ:NYAX) Shares Gap Up – Should You Buy?

Nayax Ltd. (NASDAQ:NYAX) shares gapped up prior to trading on Tuesday . The stock had previously closed at $33.52, but opened at $34.98. Nayax shares last traded at $34.78, with a volume of 4,560 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NYAX. Keefe, Bruyette & Woods increased their target price on shares of Nayax from $33.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, March 6th. B. Riley reissued a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of Nayax in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nayax has an average rating of “Hold” and a consensus price target of $34.75.

Nayax Trading Up 0.3 %

The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -112.22 and a beta of 0.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.25. The company has a 50-day moving average price of $36.91 and a 200-day moving average price of $30.98.

Hedge Funds Weigh In On Nayax

Several hedge funds have recently added to or reduced their stakes in NYAX. Y.D. More Investments Ltd grew its position in shares of Nayax by 42.7% in the 4th quarter. Y.D. More Investments Ltd now owns 1,183,988 shares of the company’s stock valued at $34,630,000 after buying an additional 354,350 shares during the last quarter. Swedbank AB grew its position in shares of Nayax by 44.5% during the fourth quarter. Swedbank AB now owns 300,000 shares of the company’s stock worth $8,748,000 after acquiring an additional 92,441 shares during the last quarter. Azora Capital LP grew its position in shares of 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 last quarter. JPMorgan Chase & Co. acquired a new position in shares of Nayax in the 4th quarter valued at $1,581,000. Finally, Baillie Gifford & Co. boosted its stake in 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 purchasing an additional 1,161 shares during the period. 34.87% of the stock is currently 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.