Nayax (NASDAQ:NYAX) Sees Large Volume Increase on Analyst Upgrade

Shares of Nayax Ltd. (NASDAQ:NYAX) saw unusually-high trading volume on Monday after Keefe, Bruyette & Woods upgraded the stock from a market perform rating to an outperform rating. Keefe, Bruyette & Woods now has a $75.00 price target on the stock. 24,471 shares changed hands during trading, an increase of 30% from the previous session’s volume of 18,813 shares.The stock last traded at $48.5450 and had previously closed at $50.60.

Several other brokerages also recently weighed in on NYAX. Jefferies Financial Group reissued a “buy” rating and issued a $79.80 target price on shares of Nayax in a research note on Thursday, May 14th. Weiss Ratings upgraded Nayax from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Barclays reduced their target price on Nayax from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Nayax from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded shares of Nayax from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nayax presently has an average rating of “Hold” and an average price target of $75.76.

Insider Buying and Selling at Nayax

In other Nayax news, CEO Carly Lisanne Furman sold 382 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $68.08, for a total transaction of $26,006.56. Following the completion of the sale, the chief executive officer directly owned 21,439 shares of the company’s stock, valued at approximately $1,459,567.12. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Oren Tepper sold 1,052 shares of Nayax stock in a transaction on Monday, June 1st. The stock was sold at an average price of $73.31, for a total transaction of $77,122.12. Following the completion of the transaction, the insider directly owned 19,392 shares in the company, valued at $1,421,627.52. This represents a 5.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 42,379 shares of company stock valued at $3,144,745.

Institutional Trading of Nayax

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Nayax by 920.4% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,353 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Nayax by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company’s stock valued at $9,966,000 after acquiring an additional 89,886 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nayax by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 33,511 shares of the company’s stock worth $1,685,000 after acquiring an additional 5,523 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Nayax by 18.6% during the 2nd quarter. Legal & General Group Plc now owns 14,087 shares of the company’s stock worth $711,000 after purchasing an additional 2,214 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Nayax by 210.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 34.87% of the company’s stock.

Nayax Stock Down 4.1%

The company has a debt-to-equity ratio of 1.43, a current ratio of 2.12 and a quick ratio of 2.03. The business has a 50 day simple moving average of $65.36 and a 200 day simple moving average of $62.73. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 231.17 and a beta of 0.47.

Nayax (NASDAQ:NYAX) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Nayax had a return on equity of 13.23% and a net margin of 1.74%.The company had revenue of $122.59 million for the quarter, compared to analyst estimates of $116.75 million. As a group, equities analysts predict that Nayax Ltd. will post 0.75 earnings per share for the current fiscal year.

Nayax Company Profile

Nayax Ltd. is a global fintech company specializing in cashless payment solutions, telematics and management services for unattended retail environments. Founded in 2005 and headquartered in Israel, Nayax develops hardware and software platforms that enable vending machines, kiosks, laundromats, e-commerce and self-checkout points to accept a wide range of payment methods, including credit and debit cards, mobile wallets and contactless NFC transactions.

The company’s product portfolio comprises proprietary point-of-sale terminals—such as the VPOS and Carbon series—as well as a cloud-based management suite known as the Monyx platform.