Nexxen International Ltd. (NASDAQ:NEXN) Sees Significant Growth in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 93,800 shares, a growth of 80.7% from the January 31st total of 51,900 shares. Based on an average trading volume of 71,100 shares, the short-interest ratio is currently 1.3 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Nexxen International

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after acquiring an additional 8,027 shares during the period. Rice Hall James & Associates LLC acquired a new position in Nexxen International during the third quarter worth $2,449,000. Blue Trust Inc. raised its position in Nexxen International by 221.7% during the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after acquiring an additional 3,931 shares during the period. JPMorgan Chase & Co. raised its position in Nexxen International by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after acquiring an additional 11,346 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in shares of Nexxen International in the fourth quarter valued at about $121,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Price Performance

NASDAQ:NEXN traded down $0.15 during trading hours on Friday, reaching $8.15. 241,933 shares of the company were exchanged, compared to its average volume of 233,183. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $17.49 and its 200-day moving average is $16.97. The firm has a market cap of $525.88 million, a PE ratio of 203.75 and a beta of 1.89. Nexxen International has a twelve month low of $4.71 and a twelve month high of $11.00.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Finally, Needham & Company LLC boosted their target price on shares of Nexxen International from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Nexxen International has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Company Profile

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.