Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume

Nexxen International Ltd. (NASDAQ:NEXN) saw an uptick in trading volume on Friday . 106,850 shares were traded during 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 Ratings Changes

Several research firms have commented on NEXN. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a research note on Friday, June 14th. Needham & Company LLC upped 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. Royal Bank of Canada increased their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Lake Street Capital boosted their target price on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Nexxen International Stock Performance

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

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $88.58 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.03 EPS. On average, research analysts predict that Nexxen International Ltd. will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rock Point Advisors LLC bought a new position in Nexxen International during the 2nd quarter worth about $3,562,000. Renaissance Technologies LLC bought a new position in Nexxen International during the 2nd quarter worth about $810,000. Dimensional Fund Advisors LP bought a new position in Nexxen International during the 2nd quarter worth about $451,000. Vanguard Personalized Indexing Management LLC bought a new position in Nexxen International during the 2nd quarter worth about $141,000. Finally, Marshall Wace LLP bought a new position in Nexxen International during the 2nd quarter worth about $136,000. 54.24% of the stock is currently owned by 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.