Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-high trading volume on Monday after Needham & Company LLC raised their price target on the stock from $8.50 to $9.50. Needham & Company LLC currently has a buy rating on the stock. Approximately 119,397 shares changed hands during trading, an increase of 81% from the previous session’s volume of 65,815 shares.The stock last traded at $7.83 and had previously closed at $7.48.

NEXN has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Lake Street Capital boosted their price target on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc bought a new stake in Nexxen International during the 3rd quarter worth about $31,000. Blue Trust Inc. raised its holdings in Nexxen International by 221.7% during the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after acquiring an additional 3,931 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Nexxen International during the third quarter valued at approximately $123,000. Marshall Wace LLP bought a new position in Nexxen International in the second quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nexxen International during the 2nd quarter worth approximately $141,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Down 2.4 %

The company has a market cap of $586.22 million, a P/E ratio of 218.25 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $7.89 and a 200-day moving average price of $6.98.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). Nexxen International had a return on equity of 7.47% and a net margin of 3.96%. The firm had revenue of $88.58 million for the quarter, compared to the consensus estimate of $85.75 million. During the same period last year, the company posted $0.03 earnings per share. Analysts forecast that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal year.

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.