Short Interest in Nexxen International Ltd. (NASDAQ:NEXN) Drops By 40.5%

Nexxen International Ltd. (NASDAQ:NEXN) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 51,900 shares, a decrease of 40.5% from the January 15th total of 87,200 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 179,700 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

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

Nexxen International Trading Down 0.8 %

NEXN stock traded down $0.08 during trading on Thursday, reaching $9.92. 23,673 shares of the stock were exchanged, compared to its average volume of 122,820. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $642.62 million, a price-to-earnings ratio of 248.00 and a beta of 1.89. The business has a 50 day moving average price of $9.94 and a 200-day moving average price of $8.63. Nexxen International has a 1 year low of $4.71 and a 1 year high of $10.94.

Institutional Trading of Nexxen International

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its position in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after acquiring an additional 3,931 shares during the period. Advisors Preferred LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at $69,000. GAMMA Investing LLC grew its holdings in shares of Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares during the period. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the 4th quarter worth about $110,000. Finally, D.A. Davidson & CO. purchased a new stake in Nexxen International in the 4th quarter valued at about $121,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.