Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume Following Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-strong trading volume on Monday after Needham & Company LLC raised their price target on the stock from $8.50 to $9.50. Needham & Company LLC currently has a buy rating on the stock. Approximately 119,397 shares changed hands during trading, an increase of 81% from the previous session’s volume of 65,815 shares.The stock last traded at $7.83 and had previously closed at $7.48.

NEXN has been the topic of several other reports. Lake Street Capital increased their price target on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada increased their price objective on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently bought and sold shares of NEXN. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International in the 3rd quarter valued at $31,000. Blue Trust Inc. lifted its stake in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after buying an additional 3,931 shares during the period. Quadrature Capital Ltd bought a new position in Nexxen International during the third quarter worth about $123,000. Marshall Wace LLP bought a new position in Nexxen International during the second quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nexxen International in the 2nd quarter valued at about $141,000. 54.24% of the stock is owned by institutional investors.

Nexxen International Trading Down 2.4 %

The business has a 50 day moving average price of $7.89 and a 200 day moving average price of $6.98. The company has a market capitalization of $586.22 million, a P/E ratio of 218.25 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Nexxen International had a return on equity of 7.47% and a net margin of 3.96%. The firm had revenue of $88.58 million during the quarter, compared to analyst estimates of $85.75 million. During the same quarter last year, the business posted $0.03 earnings per share. Analysts anticipate that Nexxen International Ltd. will post 0.55 EPS for the current year.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company’s demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.