Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-strong trading volume on Monday after Needham & Company LLC raised their price target on the stock from $8.50 to $9.50. Needham & Company LLC currently has a buy rating on the stock. Approximately 119,397 shares traded hands during trading, an increase of 81% from the previous session’s volume of 65,815 shares.The stock last traded at $7.83 and had previously closed at $7.48.

A number of other brokerages have also commented on NEXN. Royal Bank of Canada boosted their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Lake Street Capital boosted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the stock 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Guinness Atkinson Asset Management Inc bought a new position in Nexxen International in the 3rd quarter worth about $31,000. Blue Trust Inc. grew its position in 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 purchasing an additional 3,931 shares during the last quarter. Quadrature Capital Ltd bought a new position in Nexxen International in the 3rd quarter worth about $123,000. Marshall Wace LLP bought a new position in Nexxen International in the 2nd quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Nexxen International in the 2nd quarter worth about $141,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Up 20.7 %

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 stock has a market cap of $601.58 million, a P/E ratio of 210.25 and a beta of 1.86. The firm’s 50-day simple moving average is $7.86 and its 200 day simple moving average is $6.96.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $88.58 million during the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same period in the prior year, the company posted $0.03 earnings per share. As a group, equities research analysts anticipate that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

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.