Nexxen International Ltd. (NASDAQ:NEXN – Get Free Report) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 41,500 shares, a drop of 36.7% from the August 15th total of 65,600 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 59,700 shares, the short-interest ratio is currently 0.7 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Rock Point Advisors LLC purchased a new stake in Nexxen International in the second quarter valued at approximately $3,562,000. Dimensional Fund Advisors LP purchased a new stake in shares of Nexxen International during the 2nd quarter valued at $451,000. Marshall Wace LLP purchased a new stake in shares of Nexxen International during the 2nd quarter valued at $136,000. Renaissance Technologies LLC bought a new stake in shares of Nexxen International during the 2nd quarter worth $810,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Nexxen International in the second quarter worth $141,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.
Nexxen International Price Performance
NASDAQ:NEXN traded down $0.03 during trading hours on Monday, hitting $7.51. The stock had a trading volume of 30,610 shares, compared to its average volume of 62,396. The company has a 50 day simple moving average of $6.98 and a two-hundred day simple moving average of $6.14. The firm has a market capitalization of $519.23 million, a price-to-earnings ratio of -57.77 and a beta of 1.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47. Nexxen International has a one year low of $3.15 and a one year high of $8.32.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on NEXN shares. Stifel Nicolaus upped their price target on shares of Nexxen International from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Tuesday, May 21st. Royal Bank of Canada increased their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Nexxen International in a research report on Friday, June 14th. Lake Street Capital boosted their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC raised their target price on Nexxen International from $6.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.10.
Get Our Latest Analysis on Nexxen International
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.
Further Reading
- Five stocks we like better than Nexxen International
- Insider Buying Explained: What Investors Need to Know
- Palo Alto Analysts Drive it to New Highs: 50% Upside Is Possible
- What is the S&P 500 and How It is Distinct from Other Indexes
- Roblox’s Growth Beyond Kids: Stock Set for Major Moves
- Stock Sentiment Analysis: How it Works
- 5 Oversold Stocks to Buy Right Now
Receive News & Ratings for Nexxen International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexxen International and related companies with MarketBeat.com's FREE daily email newsletter.