Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume – What’s Next?

Nexxen International Ltd. (NASDAQ:NEXN) shares saw unusually-strong trading volume on Tuesday . Approximately 117,555 shares traded hands during trading, an increase of 49% from the previous session’s volume of 79,059 shares.The stock last traded at $9.89 and had previously closed at $9.95.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of 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 boosted their target price on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Lake Street Capital raised their price target 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Stock Performance

The stock has a fifty day simple moving average of $8.33 and a 200-day simple moving average of $7.27. The stock has a market cap of $666.73 million, a P/E ratio of 248.75 and a beta of 1.93. 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rock Point Advisors LLC acquired a new stake in shares of Nexxen International in the second quarter valued at approximately $3,562,000. Rice Hall James & Associates LLC acquired a new stake in Nexxen International in the 3rd quarter valued at $2,449,000. Renaissance Technologies LLC bought a new stake in Nexxen International during the 2nd quarter worth about $810,000. Dimensional Fund Advisors LP acquired a new position in shares of Nexxen International during the 2nd quarter worth about $451,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Nexxen International in the 2nd quarter valued at about $141,000. Institutional investors and hedge funds 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.