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

Nexxen International Ltd. (NASDAQ:NEXN) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 122,900 shares, an increase of 50.8% from the November 30th total of 81,500 shares. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Needham & Company LLC lifted their target price on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Nexxen International has a consensus rating of “Moderate Buy” and a consensus price target of $9.80.

Nexxen International Trading Up 0.9 %

NEXN traded up $0.09 during trading on Monday, hitting $10.07. 86,619 shares of the company’s stock were exchanged, compared to its average volume of 86,843. Nexxen International has a 1 year low of $4.61 and a 1 year high of $10.47. The stock has a 50 day moving average price of $9.15 and a 200 day moving average price of $7.79. The firm has a market cap of $664.80 million, a P/E ratio of 251.75 and a beta of 1.93. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Trading of Nexxen International

Institutional investors have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International during the third quarter worth about $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 valued at $46,000 after buying an additional 3,931 shares during the period. Quadrature Capital Ltd purchased a new position in Nexxen International in the 3rd quarter worth approximately $123,000. Marshall Wace LLP purchased a new position in Nexxen International in the 2nd quarter worth approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nexxen International during the second quarter valued at approximately $141,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.