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

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw unusually-high 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 mid-day 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.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Lake Street Capital lifted their target price on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Hedge Funds Weigh In On Nexxen International

A number of large investors have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc purchased a new stake in Nexxen International in the 3rd quarter worth approximately $31,000. Blue Trust Inc. raised 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 purchasing an additional 3,931 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Nexxen International during the third quarter valued at approximately $123,000. Marshall Wace LLP bought a new position in shares of Nexxen International in the 2nd quarter worth $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nexxen International during the 2nd quarter valued at $141,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Price Performance

The business’s fifty day moving average price is $7.86 and its 200-day moving average price is $6.96. The company has a market capitalization of $560.27 million, a P/E ratio of 187.00 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 announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $88.58 million during the quarter, compared to the consensus estimate of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, sell-side analysts predict that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal 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.