Nexxen International (NASDAQ:NEXN) Shares Down 6.4% - Should You Sell?

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report)'s stock price fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $8.41 and last traded at $8.45. 211,282 shares changed hands during trading, an increase of 201% from the average session volume of 70,146 shares. The stock had previously closed at $9.03.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC increased their target price on shares of Nexxen International from $8.50 to $9.50 and gave the stock a "buy" rating in a research report on Friday. Lake Street Capital lifted their target price on shares of Nexxen International from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.30.

Nexxen International Stock Down 3.3 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47. The firm's 50-day simple moving average is $7.89 and its 200 day simple moving average is $6.98. The stock has a market capitalization of $580.89 million, a P/E ratio of 225.75 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a return on equity of 7.47% and a net margin of 3.96%. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, research analysts expect that Nexxen International Ltd. will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Nexxen International

Large investors have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc bought a new position in shares of Nexxen International during the 3rd quarter worth about $31,000. Blue Trust Inc. boosted its position in shares of Nexxen International by 221.7% during the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company's stock worth $46,000 after purchasing an additional 3,931 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Nexxen International during the 3rd quarter worth about $123,000. Marshall Wace LLP bought a new position in shares of Nexxen International during the 2nd quarter worth about $136,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Nexxen International during the 2nd quarter worth about $141,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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