Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume – Here’s What Happened

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-high trading volume on Wednesday . Approximately 76,653 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 86,305 shares.The stock last traded at $9.82 and had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEXN shares. Needham & Company LLC increased their target price on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada increased their price objective on 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 report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Nexxen International Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The stock’s 50-day moving average is $8.81 and its 200 day moving average is $7.57. The stock has a market cap of $663.95 million, a price-to-earnings ratio of 250.00 and a beta of 1.93.

Institutional Trading of Nexxen International

Institutional investors have recently modified their holdings of the business. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Nexxen International in the third quarter valued at about $31,000. Blue Trust Inc. increased its holdings in Nexxen International by 221.7% in the third 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Nexxen International during the 3rd quarter valued at approximately $123,000. Marshall Wace LLP purchased a new stake in shares of Nexxen International during the 2nd quarter worth approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International in the 2nd quarter worth approximately $141,000. 54.24% of the stock is currently owned by hedge funds and other 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.