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

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-high trading volume on Friday 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. Approximately 42,648 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 69,547 shares.The stock last traded at $10.11 and had previously closed at $9.91.

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

Institutional Trading of Nexxen International

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International in the second quarter valued at approximately $810,000. Dimensional Fund Advisors LP acquired a new stake in shares of Nexxen International during the second quarter worth $451,000. Rock Point Advisors LLC acquired a new stake in shares of Nexxen International in the 2nd quarter valued at about $3,562,000. Rice Hall James & Associates LLC acquired a new position in shares of Nexxen International during the 3rd quarter worth about $2,449,000. Finally, Blue Trust Inc. increased its position in shares of Nexxen International by 221.7% during 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. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Trading Up 4.8 %

The stock has a market cap of $683.63 million, a price-to-earnings ratio of 259.75 and a beta of 1.90. The business has a 50-day simple moving average of $9.32 and a two-hundred 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.

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.