Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 57,800 shares, a decrease of 23.5% from the October 15th total of 75,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 68,400 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On Nexxen International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rock Point Advisors LLC bought a new position in Nexxen International in the 2nd quarter valued at $3,562,000. Rice Hall James & Associates LLC purchased a new stake in Nexxen International in the third quarter worth approximately $2,449,000. Renaissance Technologies LLC purchased a new stake in Nexxen International during the second quarter valued at about $810,000. Dimensional Fund Advisors LP bought a new stake in Nexxen International during the 2nd quarter valued at $451,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International in the 2nd quarter worth approximately $141,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Price Performance

NEXN stock traded down $0.19 during midday trading on Friday, reaching $7.48. 382,318 shares of the stock were exchanged, compared to its average volume of 67,383. The stock has a market capitalization of $498.32 million, a PE ratio of 187.00 and a beta of 1.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47. The company has a fifty day moving average price of $7.86 and a 200 day moving average price of $6.95. Nexxen International has a 52 week low of $3.37 and a 52 week high of $8.69.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. The company had revenue of $88.58 million during the quarter, compared to the consensus estimate of $85.75 million. During the same quarter last year, the firm posted $0.03 EPS. As a group, analysts expect that Nexxen International will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Needham & Company LLC boosted their price objective on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday. Lake Street Capital upped their target price on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada raised their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

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.