Nexxen International (NASDAQ:NEXN) Shares Gap Down – Should You Sell?

Nexxen International Ltd. (NASDAQ:NEXN)’s share price gapped down before the market opened on Friday . The stock had previously closed at $7.67, but opened at $7.45. Nexxen International shares last traded at $7.57, with a volume of 156,853 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Lake Street Capital raised their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Needham & Company LLC raised their target price on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price target on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Nexxen International Stock Down 2.5 %

The company has a market capitalization of $498.36 million, a price-to-earnings ratio of 187.00 and a beta of 1.86. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $7.86 and a two-hundred day moving average price of $6.94.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings data 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). Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. The business had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. During the same quarter last year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

Institutional Trading of Nexxen International

Several institutional investors have recently added to or reduced their stakes in the stock. Guinness Atkinson Asset Management Inc bought a new stake in shares of Nexxen International in the 3rd quarter worth about $31,000. Blue Trust Inc. grew its stake in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Nexxen International in the third quarter valued at about $123,000. Marshall Wace LLP acquired a new stake in Nexxen International during the second quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Nexxen International during the 2nd quarter worth approximately $141,000. 54.24% of the stock is owned by institutional investors and hedge funds.

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.