Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume – Still a Buy?

Nexxen International Ltd. (NASDAQ:NEXN) shares saw an uptick in trading volume on Monday . 170,083 shares traded hands during mid-day trading, an increase of 123% from the previous session’s volume of 76,165 shares.The stock last traded at $9.82 and had previously closed at $9.97.

Analysts Set New Price Targets

A number of analysts have weighed in on NEXN shares. Needham & Company LLC increased their price objective on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 15th. Lake Street Capital increased their price target on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Nexxen International Stock Up 4.2 %

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 50-day moving average is $8.17 and its 200 day moving average is $7.15. The firm has a market capitalization of $678.71 million, a PE ratio of 255.00 and a beta of 1.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NEXN. Guinness Atkinson Asset Management Inc purchased a new position in shares of Nexxen International during the 3rd quarter worth $31,000. Blue Trust Inc. increased its stake in Nexxen International by 221.7% in the third 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 last quarter. Quadrature Capital Ltd purchased a new position in Nexxen International during the third quarter worth about $123,000. Marshall Wace LLP acquired a new stake in Nexxen International in the 2nd quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International in the 2nd quarter valued at about $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.