Royal Bank of Canada Forecasts Strong Price Appreciation for Nexxen International (NASDAQ:NEXN) Stock

Nexxen International (NASDAQ:NEXN) had its target price hoisted by analysts at Royal Bank of Canada from $11.00 to $13.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 25.12% from the stock’s previous close.

Separately, Needham & Company LLC raised 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Nexxen International has a consensus rating of “Moderate Buy” and an average price target of $10.20.

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $10.39 on Friday. The firm has a market capitalization of $683.63 million, a PE ratio of 259.75 and a beta of 1.90. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $9.32 and a two-hundred day moving average price of $7.88. Nexxen International has a twelve month low of $4.61 and a twelve month high of $10.49.

Institutional Investors Weigh In On Nexxen International

A number of institutional investors and hedge funds have recently modified their holdings of NEXN. Guinness Atkinson Asset Management Inc bought a new stake in Nexxen International during the 3rd quarter worth approximately $31,000. Blue Trust Inc. increased its holdings in shares of 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 buying an additional 3,931 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Nexxen International during the 3rd quarter worth $123,000. Finally, Marshall Wace LLP purchased a new position in Nexxen International in the second quarter worth $136,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.