Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw 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. 119,397 shares traded 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.

Several other brokerages also recently commented on NEXN. Lake Street Capital lifted their target price on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their target price on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Institutional Trading of Nexxen International

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

Nexxen International Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $6.96. The firm has a market capitalization of $601.58 million, a price-to-earnings ratio of 210.25 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. The firm had revenue of $88.58 million for the quarter, compared to the consensus estimate of $85.75 million. During the same period in the prior year, the business earned $0.03 earnings per share. Sell-side analysts predict that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

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.