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

Nexxen International Ltd. (NASDAQ:NEXN) gapped down prior to trading on Friday . The stock had previously closed at $7.67, but opened at $7.45. Nexxen International shares last traded at $7.57, with a volume of 156,853 shares trading hands.

Wall Street Analysts Forecast Growth

NEXN has been the subject of a number of analyst reports. Lake Street Capital raised their price objective on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada raised their price target on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC upped their price objective on shares of Nexxen International from $6.50 to $8.50 and gave the company a “buy” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

Nexxen International Price Performance

The stock has a market capitalization of $496.32 million, a P/E ratio of -107.41 and a beta of 1.86. The business has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $6.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. The company had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. During the same quarter last year, the firm posted $0.03 EPS. Sell-side analysts expect that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently modified their holdings of the company. Rice Hall James & Associates LLC bought a new position in shares of Nexxen International in the third quarter valued at approximately $2,449,000. Blue Trust Inc. boosted its position in 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. Guinness Atkinson Asset Management Inc bought a new position in Nexxen International in the 3rd quarter valued at $31,000. Marshall Wace LLP purchased a new stake in shares of Nexxen International during the 2nd quarter valued at $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Nexxen International during the 2nd quarter worth $141,000. Institutional investors own 54.24% of the company’s stock.

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.