Nexxen International (NASDAQ:NEXN) Trading Down 3.9% – What’s Next?

Nexxen International Ltd. (NASDAQ:NEXN) was down 3.9% during trading on Friday . The company traded as low as $9.58 and last traded at $9.64. Approximately 42,228 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 130,617 shares. The stock had previously closed at $10.03.

Analyst Ratings Changes

NEXN has been the topic of several recent analyst reports. Royal Bank of Canada raised their price objective on Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC boosted their price target on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and an average price target of $10.20.

Nexxen International Stock Down 6.6 %

The stock has a 50 day moving average price of $9.97 and a 200 day moving average price of $8.30. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $611.67 million, a P/E ratio of 234.25 and a beta of 1.90.

Institutional Trading of Nexxen International

Several hedge funds have recently added to or reduced their stakes in NEXN. GAMMA Investing LLC increased its stake in shares of Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after acquiring an additional 11,346 shares during the period. Tidal Investments LLC lifted its position 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 worth $386,000 after acquiring an additional 2,125 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Nexxen International in the third quarter worth $123,000. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Nexxen International in the third quarter valued at $2,449,000. Institutional investors own 54.24% of the company’s stock.

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.