Nayax (NASDAQ:NYAX) Hits New 1-Year High – Here’s Why

Nayax Ltd. (NASDAQ:NYAX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $75.20 and last traded at $74.02, with a volume of 20201 shares traded. The stock had previously closed at $70.68.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Oppenheimer raised shares of Nayax from a “market perform” rating to an “outperform” rating and set a $86.00 price objective for the company in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.80 price objective on shares of Nayax in a research note on Thursday, May 14th. UBS Group boosted their target price on shares of Nayax from $55.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. William Blair reissued an “outperform” rating on shares of Nayax in a research note on Monday, March 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Nayax from $60.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Nayax has a consensus rating of “Hold” and a consensus target price of $77.20.

Nayax Price Performance

The stock has a market capitalization of $2.73 billion, a PE ratio of 94.51 and a beta of 0.39. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $63.39 and its 200-day moving average price is $55.53.

Nayax (NASDAQ:NYAX) last issued its earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). The company had revenue of $106.86 million for the quarter, compared to analysts’ expectations of $105.64 million. Nayax had a net margin of 6.95% and a return on equity of 14.09%. As a group, equities analysts forecast that Nayax Ltd. will post 0.73 EPS for the current year.

Insider Activity at Nayax

In related news, CFO Sagit Manor sold 1,754 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $63.94, for a total value of $112,150.76. Following the completion of the sale, the chief financial officer directly owned 47,523 shares in the company, valued at $3,038,620.62. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aaron Samuel Greenberg sold 1,002 shares of Nayax stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $63.94, for a total value of $64,067.88. Following the completion of the sale, the insider owned 25,753 shares of the company’s stock, valued at $1,646,646.82. The trade was a 3.75% 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. Insiders sold 8,533 shares of company stock worth $550,228 over the last three months.

Institutional Trading of Nayax

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Nayax by 210.5% in the second quarter. Russell Investments Group Ltd. now owns 590 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of Nayax in the second quarter valued at about $33,000. Bank of America Corp DE raised its holdings in shares of Nayax by 920.4% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $44,000 after acquiring an additional 1,353 shares in the last quarter. Smartleaf Asset Management LLC bought a new position in Nayax in the fourth quarter worth about $69,000. Finally, Alliancebernstein L.P. bought a new position in Nayax in the third quarter worth about $128,000. 34.87% of the stock is currently owned by institutional investors.

About Nayax

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.