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

Nexxen International Ltd. (NASDAQ:NEXN) saw an uptick in trading volume on Friday 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. 42,648 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 69,547 shares.The stock last traded at $10.11 and had previously closed at $9.91.

Separately, Needham & Company LLC upped their price target on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Nexxen International has a consensus rating of “Moderate Buy” and a consensus target price of $10.20.

Hedge Funds Weigh In On Nexxen International

Hedge funds have recently bought and sold shares of the stock. Guinness Atkinson Asset Management Inc purchased a new position in shares of Nexxen International during the 3rd quarter worth about $31,000. Blue Trust Inc. lifted its position in Nexxen International by 221.7% during the 3rd 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. GAMMA Investing LLC lifted its position in shares of Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Nexxen International in the 3rd quarter valued at about $123,000. Finally, Marshall Wace LLP acquired a new stake in Nexxen International during the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Up 4.8 %

The stock has a market capitalization of $683.63 million, a price-to-earnings ratio of 259.75 and a beta of 1.90. The firm’s fifty day moving average is $9.32 and its 200-day moving average is $7.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43.

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.