Royal Bank of Canada Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its target price lifted by investment analysts at Royal Bank of Canada from $11.00 to $13.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 27.08% from the company’s current price.

Separately, Needham & Company LLC increased their target price on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Nexxen International has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Price Performance

Shares of NASDAQ:NEXN traded up $0.32 during midday trading on Friday, reaching $10.23. 115,012 shares of the company were exchanged, compared to its average volume of 108,869. The stock has a market cap of $675.36 million, a PE ratio of 255.75 and a beta of 1.93. The business’s fifty day moving average is $9.27 and its two-hundred day moving average is $7.85. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a one year low of $4.61 and a one year high of $10.47.

Institutional Trading of Nexxen International

Several hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its stake in shares of 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 in the last quarter. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Nexxen International during the 3rd quarter valued at $31,000. Blue Trust Inc. grew its stake in Nexxen International by 221.7% during 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. GAMMA Investing LLC increased its position in 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 buying an additional 8,027 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after buying an additional 11,346 shares during the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.