Nexxen International (NASDAQ:NEXN) Reaches New 1-Year High – Time to Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $9.43 and last traded at $9.27, with a volume of 57701 shares. The stock had previously closed at $8.81.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC upped their price target on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, November 15th. Royal Bank of Canada raised their price target on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Lake Street Capital lifted their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Nexxen International Price Performance

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 firm has a market capitalization of $636.12 million, a price-to-earnings ratio of 220.25 and a beta of 1.86. The company has a 50-day moving average of $7.92 and a 200-day moving average of $7.00.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Nexxen International had a return on equity of 7.47% and a net margin of 3.96%. The business had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, research analysts anticipate that Nexxen International Ltd. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEXN. Guinness Atkinson Asset Management Inc acquired a new position in shares of Nexxen International in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. increased its position in Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after acquiring an additional 3,931 shares during the period. Quadrature Capital Ltd bought a new position in shares of Nexxen International during the third quarter valued at $123,000. Marshall Wace LLP bought a new stake in shares of Nexxen International in the second quarter worth $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Nexxen International in the second quarter valued at $141,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.