Nexxen International (NASDAQ:NEXN) Hits New 12-Month High on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN)’s share price reached a new 52-week high during trading on Saturday 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. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares. The stock had previously closed at $9.91.

Separately, Needham & Company LLC lifted their price objective on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $10.20.

Institutional Investors Weigh In On Nexxen International

A number of large investors have recently added to or reduced their stakes in the stock. Rock Point Advisors LLC bought a new position in shares of Nexxen International during the 2nd quarter valued at $3,562,000. Rice Hall James & Associates LLC purchased a new stake in Nexxen International during the third quarter valued at $2,449,000. Renaissance Technologies LLC bought a new position in Nexxen International in the second quarter valued at about $810,000. Dimensional Fund Advisors LP purchased a new position in Nexxen International in the second quarter worth about $451,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after purchasing an additional 11,346 shares during the period. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Up 4.8 %

The company’s 50-day moving average price is $9.32 and its 200 day moving average price is $7.88. 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 cap of $683.63 million, a PE ratio of 259.75 and a beta of 1.90.

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.