Nexxen International (NASDAQ:NEXN) Reaches New 1-Year High – Still a Buy?

Nexxen International Ltd. (NASDAQ:NEXN)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $11.00 and last traded at $10.42, with a volume of 686 shares. The stock had previously closed at $10.30.

Analyst Ratings Changes

NEXN has been the topic of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Needham & Company LLC boosted their price objective 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. Finally, Royal Bank of Canada boosted their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.20.

Nexxen International Stock Up 1.0 %

The firm has a market cap of $674.04 million, a P/E ratio of 260.13 and a beta of 1.89. 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 $9.94 and its 200 day moving average is $8.70.

Institutional Trading of Nexxen International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings 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 purchasing an additional 3,931 shares during the period. Advisors Preferred LLC bought a new stake in Nexxen International in the 4th quarter valued at about $69,000. GAMMA Investing LLC boosted its holdings in Nexxen International by 2,021.9% in the 4th 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. Virtu Financial LLC bought a new stake in Nexxen International in the 4th quarter valued at about $110,000. Finally, D.A. Davidson & CO. bought a new stake in Nexxen International in the 4th quarter valued at about $121,000. Institutional investors own 54.24% of the company’s stock.

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.