Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase – Time to Buy?

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw unusually-strong trading volume on Monday . Approximately 123,427 shares traded hands during mid-day trading, an increase of 49% from the previous session’s volume of 82,844 shares.The stock last traded at $10.10 and had previously closed at $9.90.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NEXN shares. Royal Bank of Canada raised their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Needham & Company LLC increased their price target on shares of Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Lake Street Capital boosted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Nexxen International Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s fifty day simple moving average is $8.53 and its 200 day simple moving average is $7.41. The stock has a market capitalization of $669.21 million, a price-to-earnings ratio of 252.00 and a beta of 1.93.

Institutional Trading of Nexxen International

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

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.