Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume – Should You Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares saw strong trading volume on Monday . 170,083 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 76,165 shares.The stock last traded at $9.82 and had previously closed at $9.97.

Analyst Upgrades and Downgrades

NEXN has been the topic of a number of recent analyst reports. Lake Street Capital upped their price target on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Needham & Company LLC upped their target price on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Nexxen International Stock Performance

The firm’s 50 day moving average is $8.07 and its 200-day moving average is $7.09. The stock has a market capitalization of $655.42 million, a price-to-earnings ratio of 249.25 and a beta of 1.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43.

Nexxen International (NASDAQ:NEXN) last posted its earnings results 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). Nexxen International had a return on equity of 7.49% and a net margin of 3.96%. The firm had revenue of $88.58 million for the quarter, compared to analysts’ expectations of $85.75 million. During the same period in the previous year, the company earned $0.03 earnings per share. Analysts forecast that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Nexxen International

Institutional investors have recently bought and sold shares of the business. Rock Point Advisors LLC acquired a new position in shares of Nexxen International during the 2nd quarter worth approximately $3,562,000. Dimensional Fund Advisors LP purchased a new position in Nexxen International in the 2nd quarter valued at about $451,000. Renaissance Technologies LLC purchased a new position in Nexxen International in the 2nd quarter valued at about $810,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International in the second quarter worth approximately $141,000. Finally, Marshall Wace LLP acquired a new position in Nexxen International in the 2nd quarter valued at $136,000. 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.