Nexxen International (NASDAQ:NEXN) Trading Down 6.4% – Here’s What Happened

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $8.41 and last traded at $8.45. 211,282 shares were traded during mid-day trading, an increase of 201% from the average session volume of 70,146 shares. The stock had previously closed at $9.03.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NEXN. Royal Bank of Canada increased their price target on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Needham & Company LLC lifted their price target on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Lake Street Capital raised their target price on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Stock Performance

The company has a market cap of $645.44 million, a P/E ratio of 242.50 and a beta of 1.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.43. The business has a 50 day moving average price of $7.92 and a two-hundred day moving average price of $7.00.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a return on equity of 7.49% and a net margin of 3.96%. The firm had revenue of $88.58 million for the quarter, compared to analysts’ expectations of $85.75 million. During the same quarter last year, the company posted $0.03 EPS. On average, sell-side analysts anticipate that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Nexxen International in the 3rd quarter worth approximately $31,000. Blue Trust Inc. grew its stake in shares of Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after buying an additional 3,931 shares during the last quarter. Quadrature Capital Ltd bought a new position in Nexxen International in the 3rd quarter valued at approximately $123,000. Marshall Wace LLP bought a new position in Nexxen International in the 2nd quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Nexxen International in the 2nd quarter valued at approximately $141,000. Hedge funds and other 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.