Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase on Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-high 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. Approximately 42,648 shares changed hands 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 increased their target price on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.20.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc purchased a new position in Nexxen International in the third quarter valued at $31,000. Blue Trust Inc. boosted its position in shares of 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 increased its holdings in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after acquiring an additional 8,027 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Nexxen International during the 3rd quarter worth about $123,000. Finally, Marshall Wace LLP purchased a new stake in Nexxen International during the second quarter worth approximately $136,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Price Performance

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 company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $9.32 and a 200-day moving average of $7.88.

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.