Nexxen International (NASDAQ:NEXN) Trading 3.9% Higher – Here’s Why

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NEXN shares. Royal Bank of Canada upped their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Lake Street Capital raised their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC lifted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Nexxen International Stock Up 4.5 %

The stock has a market capitalization of $683.15 million, a P/E ratio of 246.25 and a beta of 1.93. 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 fifty day moving average price of $8.66 and a 200 day moving average price of $7.48.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC grew its position in 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 buying an additional 2,125 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Nexxen International during the 3rd quarter valued at $123,000. Rice Hall James & Associates LLC purchased a new stake in Nexxen International during the third quarter valued at about $2,449,000. Blue Trust Inc. lifted its stake in Nexxen International by 221.7% during the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc bought a new stake in Nexxen International in the 3rd quarter worth approximately $31,000. 54.24% of the stock is owned by institutional investors.

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.