Short Interest in Nexxen International Ltd. (NASDAQ:NEXN) Grows By 84.8%

Nexxen International Ltd. (NASDAQ:NEXN) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 81,500 shares, an increase of 84.8% from the November 15th total of 44,100 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 140,100 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Nexxen International

Several hedge funds have recently bought and sold shares of NEXN. Rock Point Advisors LLC acquired a new position in shares of Nexxen International in the 2nd quarter valued at $3,562,000. Dimensional Fund Advisors LP acquired a new position in shares of Nexxen International in the second quarter worth about $451,000. Renaissance Technologies LLC purchased a new stake in shares of Nexxen International during the 2nd quarter worth about $810,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International during the 2nd quarter valued at about $141,000. Finally, Marshall Wace LLP purchased a new position in shares of Nexxen International in the 2nd quarter valued at about $136,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEXN. Needham & Company LLC raised their target price on shares of Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Lake Street Capital lifted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada increased their price objective on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Nexxen International Stock Performance

Shares of NEXN stock traded down $0.16 on Thursday, hitting $9.85. The company had a trading volume of 155,480 shares, compared to its average volume of 84,976. Nexxen International has a twelve month low of $4.17 and a twelve month high of $10.47. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market cap of $653.99 million, a P/E ratio of 246.25 and a beta of 1.93. The company has a 50-day moving average price of $8.66 and a 200-day moving average price of $7.48.

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.