Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw unusually-strong trading volume on Wednesday . Approximately 76,653 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 86,305 shares.The stock last traded at $9.82 and had previously closed at $10.04.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC raised their price objective on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Lake Street Capital lifted their price target on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada upped their price target on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report 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 a consensus rating of “Moderate Buy” and an average price target of $9.80.

Nexxen International Stock Down 0.1 %

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 stock has a market cap of $642.80 million, a P/E ratio of 242.50 and a beta of 1.93. The stock’s fifty day moving average price is $8.89 and its 200 day moving average price is $7.60.

Hedge Funds Weigh In On Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc bought a new position in Nexxen International during the third quarter valued at approximately $31,000. Blue Trust Inc. grew its stake in shares of Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares during the last quarter. Quadrature Capital Ltd bought a new position in Nexxen International in the third quarter worth about $123,000. Marshall Wace LLP bought a new stake in Nexxen International during the 2nd quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nexxen International in the 2nd quarter valued at approximately $141,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.