Nexxen International (NASDAQ:NEXN) Shares Gap Down – Time to Sell?

Nexxen International Ltd. (NASDAQ:NEXN) gapped down prior to trading on Thursday . The stock had previously closed at $9.76, but opened at $9.39. Nexxen International shares last traded at $9.43, with a volume of 41,186 shares traded.

Analyst Upgrades and Downgrades

NEXN has been the subject of several recent analyst reports. Needham & Company LLC increased their price objective on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their price objective on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Nexxen International in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nexxen International has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Stock Down 2.6 %

The stock has a market cap of $616.01 million, a price-to-earnings ratio of 237.75 and a beta of 1.89. The stock has a 50 day simple moving average of $9.96 and a 200 day simple moving average of $8.52. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Trading of Nexxen International

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 during the third quarter valued at about $31,000. Blue Trust Inc. lifted 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 in the last quarter. Advisors Preferred LLC acquired a new position in Nexxen International during the 4th quarter valued at about $69,000. GAMMA Investing LLC raised its stake in shares of Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Nexxen International in the fourth quarter worth approximately $121,000. Institutional investors 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.