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

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $8.66, but opened at $8.45. Nexxen International shares last traded at $8.20, with a volume of 72,028 shares.

Analysts Set New Price Targets

NEXN has been the subject of several research reports. Needham & Company LLC boosted their target price on Nexxen International from $6.50 to $8.50 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada increased their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Lake Street Capital increased their price target on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. 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, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $9.10.

Nexxen International Trading Down 5.3 %

The company has a market cap of $552.84 million, a PE ratio of -123.70 and a beta of 1.86. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $7.66 and its 200-day simple moving average is $6.57.

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

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. Rock Point Advisors LLC acquired a new stake in shares of Nexxen International in the 2nd quarter valued at about $3,562,000. Renaissance Technologies LLC bought a new position in Nexxen International during the 2nd quarter worth $810,000. Dimensional Fund Advisors LP bought a new stake in shares of Nexxen International in the second quarter valued at approximately $451,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Nexxen International during the second quarter worth about $141,000. Finally, Marshall Wace LLP acquired a new position in shares of Nexxen International during the 2nd quarter worth $136,000. 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.