Nexxen International (NASDAQ:NEXN) Hits New 12-Month High – Time to Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares hit a new 52-week high on Tuesday . The company traded as high as $11.00 and last traded at $10.42, with a volume of 686 shares traded. The stock had previously closed at $10.30.

Wall Street Analyst Weigh In

NEXN has been the topic of several analyst reports. Needham & Company LLC upped their price target 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. JMP Securities reiterated a “market outperform” rating and set a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. Finally, Royal Bank of Canada boosted their price target on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. 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 has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Stock Down 8.3 %

The firm has a market cap of $591.09 million, a P/E ratio of 229.00 and a beta of 1.89. The firm’s fifty day moving average is $19.08 and its 200 day moving average is $17.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43.

Institutional Investors Weigh In On Nexxen International

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its stake in shares of Nexxen International by 471.0% during the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after purchasing an additional 315,864 shares during the period. Rice Hall James & Associates LLC acquired a new stake in shares of Nexxen International during the third quarter worth $2,449,000. Renaissance Technologies LLC boosted its position in shares of Nexxen International by 176.1% in the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock valued at $4,346,000 after acquiring an additional 276,600 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Nexxen International in the fourth quarter valued at about $1,456,000. Finally, Navellier & Associates Inc. bought a new position in Nexxen International during the fourth quarter worth about $984,000. 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.