Nexxen International (NASDAQ:NEXN) Shares Gap Down – What’s Next?

Nexxen International Ltd. (NASDAQ:NEXN) shares gapped down prior to trading on Tuesday . The stock had previously closed at $10.26, but opened at $9.94. Nexxen International shares last traded at $9.96, with a volume of 43,047 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NEXN shares. Royal Bank of Canada upped their price objective on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC upped their price objective on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and an average price target of $10.20.

Nexxen International Stock Performance

The stock’s 50-day moving average price is $9.79 and its 200 day moving average price is $8.23. 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 firm has a market cap of $647.25 million, a P/E ratio of 247.88 and a beta of 1.90.

Hedge Funds Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in Nexxen International in the 2nd quarter valued at about $451,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $810,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nexxen International during the 2nd quarter worth about $141,000. Marshall Wace LLP acquired a new position in Nexxen International in the 2nd quarter valued at about $136,000. Finally, Guinness Atkinson Asset Management Inc bought a new position in Nexxen International in the 3rd quarter valued at about $31,000. 54.24% of the stock is owned by 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.