Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 57,800 shares, a decrease of 23.5% from the October 15th total of 75,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 68,400 shares, the days-to-cover ratio is presently 0.8 days.

Nexxen International Stock Down 2.5 %

Shares of NEXN traded down $0.19 during midday trading on Friday, hitting $7.48. 379,502 shares of the company’s stock traded hands, compared to its average volume of 65,562. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $498.32 million, a price-to-earnings ratio of -106.56 and a beta of 1.86. Nexxen International has a 1 year low of $3.37 and a 1 year high of $8.69. The firm’s fifty day moving average is $7.86 and its 200-day moving average is $6.92.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). The business had revenue of $88.58 million during the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same period in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts anticipate that Nexxen International will post 0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NEXN shares. Lake Street Capital boosted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Needham & Company LLC boosted their price target on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Institutional Investors Weigh In On Nexxen International

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

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.