Nexxen International Ltd. (NASDAQ:NEXN) Sees Significant Drop in Short Interest

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

Hedge Funds Weigh In On Nexxen International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc purchased a new position in shares of Nexxen International in the third quarter valued at $31,000. Blue Trust Inc. raised 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 during the last quarter. Advisors Preferred LLC purchased a new stake in Nexxen International in the 4th quarter worth approximately $69,000. GAMMA Investing LLC grew its stake in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock worth $84,000 after buying an additional 8,027 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Nexxen International in the 3rd quarter worth about $123,000. Institutional investors own 54.24% of the company's stock.

Analysts Set New Price Targets

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

Nexxen International Stock Performance

NASDAQ NEXN traded down $0.12 during trading hours on Wednesday, reaching $9.64. 34,885 shares of the company were exchanged, compared to its average volume of 136,916. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $628.97 million, a P/E ratio of 241.25 and a beta of 1.90. Nexxen International has a 1 year low of $4.61 and a 1 year high of $10.94. The business's 50 day simple moving average is $9.97 and its 200-day simple moving average is $8.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.