Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-strong trading volume on Friday after Royal Bank of Canada raised their price target on the stock from $11.00 to $13.00. Royal Bank of Canada currently has an outperform rating on the stock. Approximately 42,648 shares traded hands during trading, a decline of 39% from the previous session’s volume of 69,547 shares.The stock last traded at $10.11 and had previously closed at $9.91.

Separately, Needham & Company LLC boosted their price objective on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Institutional Investors Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in the business. Guinness Atkinson Asset Management Inc purchased a new stake in Nexxen International during the 3rd quarter valued at approximately $31,000. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 3,931 shares during the period. GAMMA Investing LLC increased its holdings in shares of Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Nexxen International during the third quarter worth approximately $123,000. Finally, Marshall Wace LLP acquired a new stake in shares of Nexxen International during the second quarter worth $136,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Nexxen International Trading Up 4.8 %

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 stock has a market capitalization of $683.63 million, a PE ratio of 259.75 and a beta of 1.90. The business’s 50-day moving average is $9.32 and its two-hundred day moving average is $7.88.

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.