Nexxen International (NASDAQ:NEXN) Hits New 12-Month High After Analyst Upgrade

Shares of Nexxen International Ltd. (NASDAQ:NEXN) reached a new 52-week high on Saturday after Royal Bank of Canada raised their price target on the stock from $11.00 to $13.00. Royal Bank of Canada currently has an outperform rating on the stock. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares traded. The stock had previously closed at $9.91.

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

Institutional Inflows and Outflows

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

Nexxen International Stock Performance

The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $683.63 million, a P/E ratio of 259.75 and a beta of 1.90. The business’s 50 day simple moving average is $9.32 and its two-hundred day simple moving average is $7.89.

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.