Nexxen International (NASDAQ:NEXN) Hits New 12-Month High at $7.35

Nexxen International Ltd. (NASDAQ:NEXN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.35 and last traded at $7.35, with a volume of 3213 shares trading hands. The stock had previously closed at $7.19.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NEXN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $6.50 price objective on shares of Nexxen International in a report on Tuesday, May 21st. JMP Securities restated a “market outperform” rating and set a $11.00 price target on shares of Nexxen International in a research note on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $8.00 price objective on shares of Nexxen International in a research note on Friday, June 21st. Finally, Stifel Nicolaus raised their target price on shares of Nexxen International from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, May 21st.

Nexxen International Price Performance

The company has a 50-day moving average of $6.33 and a 200-day moving average of $5.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $507.47 million, a price-to-earnings ratio of -55.31 and a beta of 1.84.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.02) EPS for the quarter. Nexxen International had a positive return on equity of 4.86% and a negative net margin of 3.12%. The company had revenue of $74.43 million for the quarter, compared to analysts’ expectations of $73.35 million. As a group, equities research analysts predict that Nexxen International Ltd. will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Nexxen International

Institutional investors have recently added to or reduced their stakes in the business. Rock Point Advisors LLC purchased a new stake in shares of Nexxen International in the second quarter valued at approximately $3,562,000. Renaissance Technologies LLC purchased a new position in shares of Nexxen International in the 2nd quarter valued at about $810,000. Dimensional Fund Advisors LP purchased a new position in shares of Nexxen International in the 2nd quarter valued at about $451,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International in the second quarter valued at about $141,000. Finally, Marshall Wace LLP purchased a new stake in Nexxen International during the second quarter worth about $136,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

About Nexxen International

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.