Nexxen International (NASDAQ:NEXN) Shares Gap Down – Time to Sell?

Nexxen International Ltd. (NASDAQ:NEXN) gapped down before the market opened on Tuesday . The stock had previously closed at $10.26, but opened at $9.94. Nexxen International shares last traded at $9.96, with a volume of 43,047 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NEXN shares. Royal Bank of Canada raised their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC lifted their price target 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. 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, Nexxen International currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Stock Up 1.4 %

The business has a fifty day simple moving average of $9.88 and a two-hundred day simple moving average of $8.27. 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 company has a market cap of $654.76 million, a PE ratio of 250.75 and a beta of 1.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. Guinness Atkinson Asset Management Inc purchased a new position in shares of Nexxen International during the 3rd quarter worth $31,000. Blue Trust Inc. raised its holdings in shares of Nexxen International by 221.7% during the 3rd 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. GAMMA Investing LLC raised 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 acquiring an additional 8,027 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Nexxen International during the 3rd quarter worth $123,000. Finally, Marshall Wace LLP purchased a new position in shares of Nexxen International during the 2nd quarter worth $136,000. 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.