Nexxen International (NASDAQ:NEXN) Sets New 1-Year High on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price reached a new 52-week high during trading on Saturday 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. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares changing hands. The stock 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 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.20.

Institutional Trading of Nexxen International

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC raised its stake in Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after buying an additional 2,125 shares during the last quarter. Guinness Atkinson Asset Management Inc bought a new position in shares of Nexxen International during the third quarter valued at $31,000. Blue Trust Inc. raised its position 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 purchasing an additional 3,931 shares during the last quarter. GAMMA Investing LLC boosted its stake in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after purchasing an additional 11,346 shares during the last quarter. 54.24% of the stock is owned by institutional investors.

Nexxen International Stock Up 4.8 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $683.63 million, a PE ratio of 259.75 and a beta of 1.90. The company’s 50-day moving average is $9.32 and its 200 day moving average is $7.88.

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.