Nexxen International (NASDAQ:NEXN) Trading Down 8.1% – What’s Next?

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price dropped 8.1% during trading on Thursday . The stock traded as low as $9.10 and last traded at $9.18. Approximately 202,510 shares changed hands during trading, an increase of 54% from the average daily volume of 131,374 shares. The stock had previously closed at $9.99.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. Royal Bank of Canada boosted their target price on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC increased their price target 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 research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Stock Performance

The stock has a market capitalization of $576.90 million, a P/E ratio of 223.50 and a beta of 1.89. The stock’s 50-day simple moving average is $18.87 and its 200 day simple moving average is $17.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43.

Institutional Trading of Nexxen International

Several hedge funds and other institutional investors have recently modified their holdings of NEXN. Marshall Wace LLP lifted its position in Nexxen International by 471.0% during the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after acquiring an additional 315,864 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in Nexxen International in the 3rd quarter valued at $2,449,000. Renaissance Technologies LLC grew its holdings in Nexxen International by 176.1% in the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock valued at $4,346,000 after buying an additional 276,600 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Nexxen International during the 4th quarter worth $1,456,000. Finally, Navellier & Associates Inc. bought a new stake in shares of Nexxen International in the fourth quarter valued at about $984,000. Institutional investors own 54.24% of the company’s stock.

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.