Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase – Here’s Why

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw an uptick in trading volume on Friday . 186,039 shares traded hands during mid-day trading, an increase of 32% from the previous session’s volume of 140,512 shares.The stock last traded at $9.11 and had previously closed at $9.16.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Needham & Company LLC raised their price target on Nexxen International from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price target on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $585.61 million, a P/E ratio of 226.50 and a beta of 1.89. The firm’s 50 day moving average price is $18.87 and its 200 day moving average price is $17.16.

Institutional Investors Weigh In On Nexxen International

Several institutional investors and hedge funds have recently bought and sold shares of NEXN. Tidal Investments LLC raised its holdings in shares of Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after acquiring an additional 2,125 shares in the last quarter. Blue Trust Inc. raised its holdings in Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares in the last quarter. Advisors Preferred LLC bought a new position in Nexxen International in the 4th quarter worth $69,000. GAMMA Investing LLC lifted its position in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Nexxen International during the 4th quarter valued at about $110,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.