Nexxen International Ltd. (NASDAQ:NEXN) Sees Large Decline in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 76,900 shares, a decline of 37.4% from the December 15th total of 122,900 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 168,900 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Nexxen International

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock valued at $84,000 after purchasing an additional 8,027 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company's stock valued at $466,000 after acquiring an additional 11,346 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock worth $386,000 after acquiring an additional 2,125 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Nexxen International during the third quarter worth $123,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Nexxen International during the third quarter worth $2,449,000. Institutional investors and hedge funds own 54.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC lifted their price target on Nexxen International from $9.50 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $10.20.

Nexxen International Stock Up 2.3 %

Shares of NEXN stock traded up $0.22 on Tuesday, reaching $9.76. 86,816 shares of the company's stock traded hands, compared to its average volume of 160,323. The company has a market capitalization of $640.71 million, a P/E ratio of 244.00 and a beta of 1.90. Nexxen International has a 12-month low of $4.61 and a 12-month high of $10.94. 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 business's 50 day moving average price is $9.58 and its two-hundred day moving average price is $8.08.

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.