Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume - Here's What Happened

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) shares saw unusually-high trading volume on Thursday . Approximately 49,234 shares changed hands during mid-day trading, a decline of 22% from the previous session's volume of 63,023 shares.The stock last traded at $8.22 and had previously closed at $7.90.

Wall Street Analyst Weigh In

NEXN has been the topic of several analyst reports. Royal Bank of Canada raised 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. Lake Street Capital raised their price target on shares of 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 objective on shares of Nexxen International from $6.50 to $8.50 and gave the company a "buy" rating in a report on Friday, August 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.10.

Nexxen International Stock Up 9.6 %

The stock has a market capitalization of $583.86 million, a P/E ratio of -121.98 and a beta of 1.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47. The stock's fifty day moving average is $7.63 and its two-hundred day moving average is $6.56.

Nexxen International (NASDAQ:NEXN - Get Free Report) last issued 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 business had revenue of $88.58 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted $0.03 earnings per share. As a group, research analysts predict that Nexxen International Ltd. will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of Nexxen International

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in shares of Nexxen International in the 2nd quarter valued at approximately $810,000. Rock Point Advisors LLC purchased a new stake in Nexxen International in the 2nd quarter worth approximately $3,562,000. Dimensional Fund Advisors LP purchased a new stake in Nexxen International in the 2nd quarter worth approximately $451,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International in the 2nd quarter worth approximately $141,000. Finally, Marshall Wace LLP purchased a new stake in Nexxen International in the 2nd quarter worth approximately $136,000. 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.