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Nexxen International (NASDAQ:NEXN) Reaches New 1-Year High After Analyst Upgrade

Nexxen International logo with Business Services background

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report)'s share price hit a new 52-week high during trading on Saturday after Royal Bank of Canada raised their price target on the stock from $11.00 to $13.00. Royal Bank of Canada currently has an outperform rating on the stock. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares. The stock had previously closed at $9.91.

Separately, Needham & Company LLC boosted their price target on shares of Nexxen International from $9.50 to $12.00 and gave the stock a "buy" rating in a 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $10.20.

Read Our Latest Stock Analysis on NEXN

Institutional Inflows and Outflows

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

Nexxen International Price Performance

The firm has a market cap of $683.63 million, a P/E ratio of 259.75 and a beta of 1.90. The business's fifty day simple moving average is $9.32 and its 200-day simple moving average is $7.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04.

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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