Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 57,800 shares, a decrease of 23.5% from the October 15th total of 75,600 shares. Approximately 0.1% of the company's stock are sold short. Based on an average trading volume of 68,400 shares, the days-to-cover ratio is presently 0.8 days.
Nexxen International Stock Down 2.5 %
Shares of NEXN traded down $0.19 during midday trading on Friday, hitting $7.48. 379,502 shares of the company's stock traded hands, compared to its average volume of 65,562. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $498.32 million, a price-to-earnings ratio of -106.56 and a beta of 1.86. Nexxen International has a 1 year low of $3.37 and a 1 year high of $8.69. The firm's fifty day moving average is $7.86 and its 200-day moving average is $6.92.
Nexxen International (NASDAQ:NEXN - Get Free Report) last issued its quarterly 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 business had revenue of $88.58 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.03 EPS. As a group, sell-side analysts anticipate that Nexxen International will post 0.55 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on NEXN shares. 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 note on Friday, August 23rd. Needham & Company LLC boosted their price target on Nexxen International from $8.50 to $9.50 and gave the stock a "buy" rating in a research report on Friday. Finally, Royal Bank of Canada raised their price objective on Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Nexxen International currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.30.
Read Our Latest Research Report on NEXN
Institutional Investors Weigh In On Nexxen International
Several hedge funds have recently added to or reduced their stakes in NEXN. Guinness Atkinson Asset Management Inc acquired a new position in Nexxen International in the third quarter valued at approximately $31,000. Blue Trust Inc. lifted its stake in shares of Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company's stock valued at $46,000 after purchasing an additional 3,931 shares during the period. Quadrature Capital Ltd acquired a new stake in Nexxen International during the third quarter valued at $123,000. Marshall Wace LLP purchased a new position in Nexxen International in the second quarter valued at $136,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nexxen International in the second quarter worth about $141,000. 54.24% of the stock is owned by hedge funds and other institutional investors.
About Nexxen International
(
Get Free Report)
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.
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