Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase – Time to Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-strong trading volume on Monday . Approximately 123,427 shares were traded during trading, an increase of 49% from the previous session’s volume of 82,844 shares.The stock last traded at $10.10 and had previously closed at $9.90.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NEXN. Lake Street Capital boosted 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. Royal Bank of Canada boosted their price target on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC boosted their target price on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and four have given 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 $9.30.

Nexxen International Stock Performance

The stock has a market cap of $689.79 million, a PE ratio of 247.50 and a beta of 1.93. The stock has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $7.38. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Nexxen International in the 3rd quarter worth $123,000. Rice Hall James & Associates LLC acquired a new stake in shares of Nexxen International during the third quarter valued at approximately $2,449,000. Blue Trust Inc. increased its stake in Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after buying an additional 3,931 shares during the period. Finally, Guinness Atkinson Asset Management Inc purchased a new stake in Nexxen International in the 3rd quarter worth approximately $31,000. Institutional investors own 54.24% of the company’s stock.

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.