Nexxen International (NASDAQ:NEXN) Shares Gap Down - Here's What Happened

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $7.97, but opened at $7.78. Nexxen International shares last traded at $7.68, with a volume of 14,427 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NEXN. Lake Street Capital boosted their target price on Nexxen International from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Needham & Company LLC upped their target price on Nexxen International from $6.50 to $8.50 and gave the company a "buy" rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their price target on Nexxen International from $9.00 to $11.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Finally, JMP Securities reissued a "market outperform" rating and issued a $11.00 price objective on shares of Nexxen International in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.10.

Nexxen International Trading Down 3.7 %

The company has a 50 day moving average price of $7.46 and a 200 day moving average price of $6.42. 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 cap of $517.37 million, a price-to-earnings ratio of -59.08 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same period last year, the business earned $0.03 EPS. On average, research analysts expect that Nexxen International Ltd. will post 0.56 earnings per share for the current year.

Institutional Trading of Nexxen International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXN. Rock Point Advisors LLC purchased a new stake in Nexxen International during the second quarter worth about $3,562,000. Renaissance Technologies LLC purchased a new stake in Nexxen International during the 2nd quarter worth approximately $810,000. Dimensional Fund Advisors LP acquired a new stake in Nexxen International during the 2nd quarter worth approximately $451,000. Vanguard Personalized Indexing Management LLC purchased a new position in Nexxen International in the 2nd quarter valued at approximately $141,000. Finally, Marshall Wace LLP acquired a new position in shares of Nexxen International in the second quarter worth $136,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

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.