Nexxen International Ltd. (NASDAQ:NEXN) Sees Significant Growth in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 93,800 shares, a growth of 80.7% from the January 31st total of 51,900 shares. Based on an average trading volume of 71,100 shares, the short-interest ratio is currently 1.3 days. Currently, 0.1% of the shares of the stock are short sold.

Nexxen International Stock Down 1.8 %

Shares of NASDAQ:NEXN traded down $0.15 during trading hours on Friday, hitting $8.15. The company’s stock had a trading volume of 241,933 shares, compared to its average volume of 233,183. Nexxen International has a 52 week low of $4.71 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $525.88 million, a price-to-earnings ratio of 203.75 and a beta of 1.89. The firm’s fifty day moving average price is $17.49 and its 200 day moving average price is $16.97.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NEXN. Blue Trust Inc. raised its stake 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 in the last quarter. Advisors Preferred LLC bought a new position in shares of Nexxen International during the 4th quarter worth approximately $69,000. GAMMA Investing LLC raised its stake 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 in the last quarter. Virtu Financial LLC bought a new position in shares of Nexxen International during the 4th quarter worth approximately $110,000. Finally, D.A. Davidson & CO. bought a new position in shares of Nexxen International during the 4th quarter worth approximately $121,000. Institutional investors own 54.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Finally, Needham & Company LLC lifted their price objective on shares of Nexxen International from $19.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

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.