Short Interest in Nexxen International Ltd. (NASDAQ:NEXN) Declines By 40.5%

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 51,900 shares, a decrease of 40.5% from the January 15th total of 87,200 shares. Based on an average trading volume of 179,700 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEXN. Royal Bank of Canada lifted their price objective on Nexxen International from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. JMP Securities reissued a "market outperform" rating and set a $11.00 price target on shares of Nexxen International in a report on Monday, January 27th. Finally, Needham & Company LLC lifted their price objective on shares of Nexxen International from $9.50 to $12.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.20.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently made changes to their positions in NEXN. Numerai GP LLC purchased a new stake in Nexxen International in the fourth quarter valued at approximately $315,000. Millennium Management LLC grew its stake in shares of Nexxen International by 45.7% in the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company's stock valued at $989,000 after buying an additional 30,973 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Nexxen International in the 4th quarter valued at $210,000. Bank of America Corp DE lifted its stake in Nexxen International by 1,898.3% during the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock worth $151,000 after acquiring an additional 14,351 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Nexxen International during the 4th quarter worth about $121,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Nexxen International Trading Up 1.7 %

NASDAQ NEXN traded up $0.17 during trading hours on Monday, reaching $10.30. The company had a trading volume of 164,280 shares, compared to its average volume of 111,652. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $667.23 million, a P/E ratio of 257.50 and a beta of 1.89. The stock has a 50-day moving average of $9.94 and a 200 day moving average of $8.70. Nexxen International has a 1-year low of $4.71 and a 1-year high of $10.94.

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.