Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw unusually-strong trading volume on Friday . Approximately 186,039 shares traded hands during trading, an increase of 32% from the previous session’s volume of 140,512 shares.The stock last traded at $9.11 and had previously closed at $9.16.

Analyst Ratings Changes

A number of analysts recently weighed in on NEXN shares. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada raised 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 raised their target price on shares of Nexxen International from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Nexxen International Trading Down 2.4 %

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market cap of $576.90 million, a PE ratio of 223.50 and a beta of 1.89. The company’s 50-day moving average is $18.64 and its 200 day moving average is $17.14.

Institutional Investors Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in the company. Rice Hall James & Associates LLC lifted its position in shares of Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock valued at $5,687,000 after acquiring an additional 262,961 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 acquiring an additional 276,600 shares in the last quarter. Marshall Wace LLP lifted its position in Nexxen International by 471.0% in the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after buying an additional 315,864 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Nexxen International in the 4th quarter worth approximately $1,456,000. Finally, Millennium Management LLC lifted its position in Nexxen International by 45.7% in the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after buying an additional 30,973 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.