Nexxen International (NASDAQ:NEXN) Shares Gap Down – What’s Next?

Shares of Nexxen International Ltd. (NASDAQ:NEXN) gapped down before the market opened 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.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lifted 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. Lake Street Capital boosted their target price on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC increased their price target on Nexxen International from $6.50 to $8.50 and gave the stock a “buy” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Nexxen International Price Performance

The business’s 50 day moving average is $7.86 and its two-hundred day moving average is $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. The firm has a market capitalization of $496.32 million, a PE ratio of -107.41 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN) last announced its quarterly 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). The company had revenue of $88.58 million during the quarter, compared to analysts’ expectations of $85.75 million. Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. During the same quarter last year, the firm posted $0.03 earnings per share. Equities research analysts anticipate that Nexxen International Ltd. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC purchased a new position in Nexxen International during the third quarter valued at approximately $2,449,000. Blue Trust Inc. boosted its holdings 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 purchasing an additional 3,931 shares during the period. Guinness Atkinson Asset Management Inc purchased a new position in shares of Nexxen International during the 3rd quarter valued at $31,000. Marshall Wace LLP bought a new position in shares of Nexxen International in the second quarter worth $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nexxen International in the second quarter worth $141,000. 54.24% of the stock is currently owned by 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.