Nayax (NASDAQ:NYAX) Sees Large Volume Increase – What’s Next?

Nayax Ltd. (NASDAQ:NYAX) shares saw strong trading volume on Monday . 6,618 shares traded hands during trading, a decline of 14% from the previous session’s volume of 7,714 shares.The stock last traded at $36.58 and had previously closed at $35.89.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NYAX shares. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of Nayax in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on shares of Nayax from $33.00 to $38.00 and gave the company a “market perform” rating in a research report on Thursday, March 6th. Finally, William Blair upgraded shares of Nayax from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Nayax has an average rating of “Hold” and a consensus price target of $34.75.

Nayax Trading Up 7.4 %

The stock has a market cap of $1.38 billion, a P/E ratio of -125.38 and a beta of 0.23. 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 firm’s fifty day simple moving average is $36.53 and its 200-day simple moving average is $32.07.

Hedge Funds Weigh In On Nayax

Several hedge funds and other institutional investors have recently bought and sold shares of NYAX. Y.D. More Investments Ltd raised 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 worth $34,630,000 after acquiring an additional 354,350 shares in the last quarter. Swedbank AB lifted its stake in Nayax by 44.5% in 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. JPMorgan Chase & Co. acquired a new stake in shares of Nayax during the 4th quarter worth approximately $1,581,000. Jane Street Group LLC acquired a new stake in shares of Nayax during the 4th quarter worth approximately $351,000. Finally, Verdence Capital Advisors LLC bought a new stake in shares of Nayax in the 4th quarter valued at $326,000. Institutional investors and hedge funds own 34.87% of the company’s stock.

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.