Nexxen International (NASDAQ:NEXN) Shares Gap Down – Time to Sell?

Nexxen International Ltd. (NASDAQ:NEXN) gapped down prior to trading on Tuesday . The stock had previously closed at $10.26, but opened at $9.94. Nexxen International shares last traded at $9.96, with a volume of 43,047 shares changing hands.

Analysts Set New Price Targets

NEXN has been the subject of a number of analyst reports. Needham & Company LLC boosted their price objective on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.20.

Nexxen International Stock Performance

The stock has a 50-day moving average price of $9.88 and a 200 day moving average price of $8.27. The firm has a market capitalization of $654.76 million, a price-to-earnings ratio of 250.75 and a beta of 1.90. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Nexxen International

Institutional investors have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc purchased a new stake in Nexxen International in the third quarter valued at approximately $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 last quarter. GAMMA Investing LLC lifted its stake in Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Nexxen International in the third quarter valued at approximately $123,000. Finally, Marshall Wace LLP purchased a new stake in Nexxen International in the second quarter valued at approximately $136,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.