Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume – Still a Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares saw an uptick in trading volume on Thursday . 44,395 shares changed hands during trading, a decline of 29% from the previous session’s volume of 62,577 shares.The stock last traded at $7.55 and had previously closed at $7.75.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NEXN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Nexxen International in a report on Friday, June 14th. Lake Street Capital raised their target price on 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 lifted their price target on Nexxen International from $6.50 to $8.50 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Nexxen International has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Nexxen International Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $539.28 million, a price-to-earnings ratio of -60.00 and a beta of 1.86. The firm has a 50 day simple moving average of $7.53 and a 200-day simple moving average of $6.47.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. The business had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, analysts predict that Nexxen International Ltd. will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Nexxen International

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

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.