Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw strong trading volume on Friday . 106,850 shares were traded during mid-day trading, an increase of 73% from the previous session’s volume of 61,931 shares.The stock last traded at $7.66 and had previously closed at $7.50.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $11.00 price target on shares of Nexxen International in a report on Friday, June 14th. Needham & Company LLC raised their price target on shares of Nexxen International from $6.50 to $8.50 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Lake Street Capital raised their price target on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, August 23rd. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Nexxen International Stock Up 6.0 %

The stock has a market capitalization of $539.81 million, a PE ratio of -57.69 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average is $7.07 and its 200 day moving average is $6.17.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $88.58 million during the quarter, compared to analysts’ expectations of $85.75 million. Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, analysts anticipate that Nexxen International Ltd. will post 0.56 EPS for the current year.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors have recently bought and sold shares of NEXN. Rock Point Advisors LLC purchased a new position in Nexxen International during the 2nd quarter worth approximately $3,562,000. Dimensional Fund Advisors LP purchased a new position in Nexxen International during the 2nd quarter worth approximately $451,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth approximately $810,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth approximately $141,000. Finally, Marshall Wace LLP acquired a new stake in shares of Nexxen International during the 2nd quarter worth approximately $136,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.