Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 93,800 shares, an increase of 80.7% from the January 31st total of 51,900 shares. Based on an average trading volume of 71,100 shares, the short-interest ratio is currently 1.3 days. Approximately 0.1% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages recently commented on NEXN. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Needham & Company LLC lifted their price target on shares of Nexxen International from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price target on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Institutional Investors Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC grew 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 during the period. Renaissance Technologies LLC grew 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 during the period. Marshall Wace LLP grew its position in shares of Nexxen International by 471.0% in the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock valued at $3,837,000 after acquiring an additional 315,864 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Nexxen International in the 4th quarter valued at about $1,456,000. Finally, Millennium Management LLC grew its position in shares of Nexxen International by 45.7% in the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock valued at $989,000 after acquiring an additional 30,973 shares during the period. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Stock Down 9.2 %

Shares of NEXN stock opened at $7.40 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 1 year low of $4.71 and a 1 year high of $11.00. The firm’s fifty day moving average price is $17.24 and its two-hundred day moving average price is $16.94. The firm has a market capitalization of $477.49 million, a P/E ratio of 185.00 and a beta of 1.89.

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.