Nexxen International (NASDAQ:NEXN) Stock Price Down 8.1% – Should You Sell?

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price was down 8.1% during trading on Thursday . The company traded as low as $9.10 and last traded at $9.18. Approximately 202,510 shares changed hands during mid-day trading, an increase of 54% from the average daily volume of 131,374 shares. The stock had previously closed at $9.99.

Analysts Set New Price Targets

A number of equities analysts recently commented on NEXN shares. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th. Needham & Company LLC lifted their target price on shares of Nexxen International from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their target price on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Stock Performance

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $9.95 and a 200-day moving average of $8.75. The company has a market cap of $599.23 million, a PE ratio of 232.13 and a beta of 1.89.

Institutional Trading of Nexxen International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXN. Rice Hall James & Associates LLC raised its holdings in Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after purchasing an additional 262,961 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Nexxen International by 176.1% in the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after buying an additional 276,600 shares during the period. Marshall Wace LLP boosted its position in Nexxen International by 471.0% during the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock valued at $3,837,000 after acquiring an additional 315,864 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Nexxen International during the 4th quarter valued at approximately $1,456,000. Finally, Millennium Management LLC grew its holdings in shares of Nexxen International by 45.7% during the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after acquiring an additional 30,973 shares during the period. Hedge funds and other 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.