Nexxen International (NASDAQ:NEXN) Hits New 12-Month High After Analyst Upgrade

Shares of Nexxen International Ltd. (NASDAQ:NEXN) hit a new 52-week high during mid-day trading on Saturday after Royal Bank of Canada raised their price target on the stock from $11.00 to $13.00. Royal Bank of Canada currently has an outperform rating on the stock. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares. The stock had previously closed at $9.91.

Separately, Needham & Company LLC boosted their price objective on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International in the 3rd quarter worth approximately $31,000. Blue Trust Inc. grew its stake 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 buying an additional 3,931 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 8,027 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Nexxen International in the third quarter valued at approximately $123,000. Finally, Marshall Wace LLP bought a new position in Nexxen International in the 2nd quarter valued at $136,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Up 4.8 %

The business has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $7.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $683.63 million, a price-to-earnings ratio of 259.75 and a beta of 1.90.

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.