Nexxen International (NASDAQ:NEXN) Shares Gap Down – Here’s Why

Shares of Nexxen International Ltd. (NASDAQ:NEXN) gapped down prior to trading on Thursday . The stock had previously closed at $9.76, but opened at $9.39. Nexxen International shares last traded at $9.43, with a volume of 41,186 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on NEXN shares. JMP Securities reiterated a “market outperform” rating and issued a $11.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC raised their target price on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.20.

Nexxen International Price Performance

The business’s 50 day moving average is $9.96 and its two-hundred day moving average is $8.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $616.01 million, a PE ratio of 237.75 and a beta of 1.89.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in NEXN. Navellier & Associates Inc. bought a new stake in shares of Nexxen International during the fourth quarter valued at about $984,000. Rice Hall James & Associates LLC grew its stake in Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock valued at $5,687,000 after acquiring an additional 262,961 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Nexxen International during the 4th quarter worth approximately $121,000. Advisors Preferred LLC purchased a new stake in Nexxen International in the 4th quarter worth approximately $69,000. Finally, GAMMA Investing LLC boosted its holdings in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. 54.24% of the stock is currently owned by hedge funds and other 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.