Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Down 36.7% in August

Nexxen International Ltd. (NASDAQ:NEXN) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 41,500 shares, a drop of 36.7% from the August 15th total of 65,600 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 59,700 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

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

Nexxen International Price Performance

NASDAQ:NEXN traded down $0.03 during trading hours on Monday, hitting $7.51. The stock had a trading volume of 30,610 shares, compared to its average volume of 62,396. The company has a 50 day simple moving average of $6.98 and a two-hundred day simple moving average of $6.14. The firm has a market capitalization of $519.23 million, a price-to-earnings ratio of -57.77 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. Nexxen International has a one year low of $3.15 and a one year high of $8.32.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $88.58 million for the quarter, compared to the consensus estimate of $85.75 million. Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. During the same period in the prior year, the business posted $0.03 EPS. Research analysts forecast that Nexxen International will post 0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NEXN shares. Stifel Nicolaus upped their price target on shares of Nexxen International from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Tuesday, May 21st. Royal Bank of Canada increased their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Nexxen International in a research report on Friday, June 14th. Lake Street Capital boosted their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC raised their target price on Nexxen International from $6.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

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.