Nexxen International (NASDAQ:NEXN) Trading Up 3.9% – Still a Buy?

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price shot up 3.9% during trading on Friday . The stock traded as high as $10.28 and last traded at $10.23. 164,886 shares were traded during mid-day trading, an increase of 93% from the average session volume of 85,236 shares. The stock had previously closed at $9.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Lake Street Capital upped their price target on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Needham & Company LLC upped their target price on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price target on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. One equities 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 target price of $9.80.

Nexxen International Stock Up 4.6 %

The company has a market capitalization of $683.82 million, a P/E ratio of 257.50 and a beta of 1.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s fifty day moving average is $8.71 and its 200-day moving average is $7.50.

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of NEXN. Rock Point Advisors LLC acquired a new stake in shares of Nexxen International during the 2nd quarter valued at $3,562,000. Rice Hall James & Associates LLC bought a new position in Nexxen International in the third quarter valued at about $2,449,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International during the second quarter valued at about $810,000. Dimensional Fund Advisors LP bought a new stake in shares of Nexxen International during the second quarter worth about $451,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nexxen International in the second quarter valued at approximately $141,000. 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.