Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 57,800 shares, a decrease of 23.5% from the October 15th total of 75,600 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 68,400 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Nexxen International

A number of institutional investors have recently bought and sold shares of NEXN. Guinness Atkinson Asset Management Inc purchased a new stake in Nexxen International in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. lifted its holdings 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 acquiring an additional 3,931 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Nexxen International in the third quarter valued at approximately $123,000. Marshall Wace LLP acquired a new position in shares of Nexxen International during the second quarter valued at approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Nexxen International in the second quarter worth approximately $141,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEXN. Needham & Company LLC increased their target price on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday. Lake Street Capital raised their target price on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada raised their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Nexxen International Stock Down 2.5 %

Shares of NASDAQ:NEXN traded down $0.19 during trading on Friday, reaching $7.48. 382,318 shares of the stock traded hands, compared to its average volume of 67,383. Nexxen International has a 52-week low of $3.37 and a 52-week high of $8.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50-day moving average of $7.86 and a two-hundred day moving average of $6.95. The stock has a market cap of $498.32 million, a P/E ratio of 187.00 and a beta of 1.86.

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

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.