Nexxen International (NASDAQ:NEXN) Shares Gap Down - What's Next?

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $7.67, but opened at $7.45. Nexxen International shares last traded at $7.57, with a volume of 156,853 shares changing hands.

Analyst Upgrades and Downgrades

NEXN has been the topic of several research reports. Royal Bank of Canada increased their price target 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. Lake Street Capital increased their price objective on Nexxen International from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC boosted their target price on Nexxen International from $8.50 to $9.50 and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $9.30.

Nexxen International Stock Performance

The stock has a market cap of $498.32 million, a PE ratio of -106.56 and a beta of 1.86. The firm's 50-day moving average is $7.86 and its 200 day moving average is $6.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.47 and a current ratio of 1.47.

Nexxen International (NASDAQ:NEXN - Get Free Report) last announced its 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 for 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 quarter last year, the company posted $0.03 EPS. As a group, research analysts anticipate that Nexxen International Ltd. will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Nexxen International

A number of large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of Nexxen International during the 3rd quarter worth approximately $123,000. Rice Hall James & Associates LLC purchased a new position in Nexxen International in the third quarter worth $2,449,000. Blue Trust Inc. lifted its holdings in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company's stock valued at $46,000 after acquiring an additional 3,931 shares during the period. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Nexxen International during the 3rd quarter worth $31,000. Finally, Marshall Wace LLP acquired a new position in Nexxen International during the second quarter worth about $136,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

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.