Nexxen International (NASDAQ:NEXN) Trading Down 3.9% – Should You Sell?

Nexxen International Ltd. (NASDAQ:NEXN) shares dropped 3.9% during trading on Friday . The company traded as low as $9.58 and last traded at $9.64. Approximately 42,228 shares changed 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.

Analysts Set New Price Targets

NEXN has been the subject of several research reports. Royal Bank of Canada lifted their target price 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 objective on 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Stock Down 5.5 %

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market cap of $618.59 million, a P/E ratio of 236.90 and a beta of 1.90. The business has a fifty day moving average of $9.88 and a 200 day moving average of $8.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC acquired a new stake in Nexxen International in the third quarter worth $2,449,000. Renaissance Technologies LLC acquired a new stake in Nexxen International during the 2nd quarter worth $810,000. Dimensional Fund Advisors LP acquired a new stake in Nexxen International during the 2nd quarter worth $451,000. Vanguard Personalized Indexing Management LLC acquired a new position in Nexxen International in the second quarter valued at about $141,000. Finally, Marshall Wace LLP bought a new stake in shares of Nexxen International in the second quarter worth about $136,000. 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.