Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase – Here’s Why

Nexxen International Ltd. (NASDAQ:NEXN) saw strong trading volume on Monday . 170,083 shares were traded during trading, an increase of 123% from the previous session’s volume of 76,165 shares.The stock last traded at $9.82 and had previously closed at $9.97.

Analyst Ratings Changes

NEXN has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada raised their target price on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Lake Street Capital raised their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Trading Up 4.2 %

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 business’s fifty day simple moving average is $8.17 and its 200 day simple moving average is $7.15. The stock has a market cap of $678.71 million, a price-to-earnings ratio of 255.00 and a beta of 1.86.

Institutional Trading of Nexxen International

A number of institutional investors and hedge funds have recently made changes to their positions in NEXN. Tidal Investments LLC grew its position in Nexxen International by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares during the last quarter. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International during the third quarter worth approximately $31,000. Blue Trust Inc. grew its holdings in Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after buying an additional 3,931 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Nexxen International in the 3rd quarter valued at approximately $123,000. Finally, Marshall Wace LLP acquired a new stake in Nexxen International in the 2nd quarter valued at approximately $136,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.