Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume – Still a Buy?

by · The Markets Daily

Nexxen International Ltd. (NASDAQ:NEXN – Get Free Report) saw strong trading volume on Friday . 186,039 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 140,512 shares.The stock last traded at $9.11 and had previously closed at $9.16.

Wall Street Analysts Forecast Growth

NEXN has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada upped their price target on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Needham & Company LLC raised their price objective on shares of Nexxen International from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Read Our Latest Report on NEXN

Nexxen International Trading Down 0.9 %

The stock has a market cap of $585.61 million, a PE ratio of 226.50 and a beta of 1.89. 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 firm has a fifty day simple moving average of $18.87 and a two-hundred day simple moving average of $17.16.

Hedge Funds Weigh In On Nexxen International

Institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in Nexxen International during the fourth quarter worth about $593,000. Numerai GP LLC bought a new stake in Nexxen International in the 4th quarter worth approximately $315,000. Millennium Management LLC boosted its stake in Nexxen International by 45.7% in the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after buying an additional 30,973 shares in the last quarter. Cresset Asset Management LLC bought a new position in Nexxen International during the fourth quarter valued at approximately $210,000. Finally, Bank of America Corp DE raised its stake in shares of Nexxen International by 1,898.3% during the fourth quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock worth $151,000 after acquiring an additional 14,351 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

Nexxen International Company Profile

(Get Free Report)

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.

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