Royal Bank of Canada Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN - Free Report) had its price objective increased by Royal Bank of Canada from $11.00 to $13.00 in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, 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 report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Nexxen International currently has an average rating of "Moderate Buy" and a consensus target price of $10.20.

Nexxen International Stock Up 4.8 %

Shares of NEXN stock traded up $0.48 on Friday, hitting $10.39. The stock had a trading volume of 261,730 shares, compared to its average volume of 192,215. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50 day moving average of $9.32 and a 200 day moving average of $7.88. Nexxen International has a 12-month low of $4.61 and a 12-month high of $10.49. The stock has a market cap of $685.93 million, a price-to-earnings ratio of 259.75 and a beta of 1.93.

Institutional Trading of Nexxen International

Several hedge funds have recently added to or reduced their stakes in the stock. Rock Point Advisors LLC bought a new stake in shares of Nexxen International in the second quarter valued at $3,562,000. Rice Hall James & Associates LLC purchased a new stake in Nexxen International in the 3rd quarter worth about $2,449,000. Renaissance Technologies LLC bought a new stake in Nexxen International in the 2nd quarter valued at about $810,000. Dimensional Fund Advisors LP purchased a new stake in Nexxen International during the second quarter valued at about $451,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Nexxen International during the second quarter worth about $141,000. Institutional investors own 54.24% of the company's stock.

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.