Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 57,800 shares, a decline of 23.5% from the October 15th total of 75,600 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 68,400 shares, the short-interest ratio is presently 0.8 days.

Nexxen International Trading Down 2.5 %

NASDAQ NEXN traded down $0.19 during trading hours on Friday, reaching $7.48. The company’s stock had a trading volume of 382,318 shares, compared to its average volume of 67,383. The firm has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $6.95. The stock has a market cap of $498.32 million, a P/E ratio of 187.00 and a beta of 1.86. Nexxen International has a 52 week low of $3.37 and a 52 week high of $8.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47.

Nexxen International (NASDAQ:NEXN) last released 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). The firm had revenue of $88.58 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.03 EPS. Equities analysts forecast that Nexxen International will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Nexxen International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Guinness Atkinson Asset Management Inc acquired a new stake in Nexxen International in the 3rd quarter valued at $31,000. Blue Trust Inc. grew its holdings in Nexxen International by 221.7% during the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after buying an additional 3,931 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Nexxen International during the third quarter worth about $123,000. Marshall Wace LLP bought a new stake in Nexxen International in the 2nd quarter worth approximately $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Nexxen International in the second quarter valued at approximately $141,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC lifted their price target on Nexxen International from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday. Lake Street Capital boosted their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada upped their price target 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

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.