Nexxen International (NASDAQ:NEXN) Shares Gap Up – Time to Buy?

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $9.26, but opened at $9.67. Nexxen International shares last traded at $9.57, with a volume of 35,928 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEXN. Royal Bank of Canada raised their price target on shares of Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Nexxen International in a report on Monday. Finally, Needham & Company LLC boosted their target price on shares of Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and an average price target of $10.20.

Nexxen International Stock Performance

The company has a market cap of $628.65 million, a PE ratio of 240.75 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 business’s fifty day moving average is $9.99 and its 200-day moving average is $8.38.

Institutional Investors Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently modified their holdings of NEXN. Advisors Preferred LLC bought a new stake in Nexxen International during the fourth quarter valued at about $69,000. GAMMA Investing LLC grew its stake in shares of Nexxen International by 2,021.9% during 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 period. JPMorgan Chase & Co. increased its holdings in Nexxen International by 24.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after acquiring an additional 11,346 shares in the last quarter. Tidal Investments LLC raised its stake in Nexxen International by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after acquiring an additional 2,125 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Nexxen International in the third quarter worth approximately $123,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.