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

Shares of Nexxen International Ltd. (NASDAQ:NEXN) shot up 3.9% on Friday . The company traded as high as $10.28 and last traded at $10.23. 164,886 shares traded hands during trading, an increase of 93% from the average session volume of 85,236 shares. The stock had previously closed at $9.85.

Wall Street Analysts Forecast Growth

NEXN has been the subject of several research analyst reports. Needham & Company LLC boosted their target price on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Lake Street Capital boosted their price target on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada increased their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.80.

Nexxen International Stock Up 4.6 %

The company has a market cap of $683.82 million, a price-to-earnings ratio of 257.50 and a beta of 1.93. The stock has a 50-day simple moving average of $8.71 and a 200-day simple moving average of $7.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Trading of Nexxen International

Hedge funds have recently added to or reduced their stakes in the company. Guinness Atkinson Asset Management Inc bought a new position in Nexxen International during the 3rd quarter worth $31,000. Blue Trust Inc. grew its stake in shares of Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after acquiring an additional 3,931 shares in the last quarter. Quadrature Capital Ltd bought a new position in Nexxen International during the third quarter worth about $123,000. Marshall Wace LLP bought a new position in Nexxen International during the second quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Nexxen International in the 2nd quarter worth about $141,000. 54.24% of the stock is owned by institutional investors and hedge funds.

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.