Nexxen International (NASDAQ:NEXN) Shares Gap Up - Here's Why

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.26, but opened at $9.67. Nexxen International shares last traded at $9.57, with a volume of 35,928 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NEXN. Needham & Company LLC raised their target price on Nexxen International from $9.50 to $12.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, JMP Securities reissued a "market outperform" rating and issued a $11.00 price target on shares of Nexxen International in a research report on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $10.20.

Nexxen International Trading Down 2.1 %

The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock has a market cap of $622.99 million, a price-to-earnings ratio of 239.50 and a beta of 1.90. The company's fifty day moving average is $9.99 and its two-hundred day moving average is $8.40.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors and hedge funds have recently modified their holdings of NEXN. Rice Hall James & Associates LLC raised its stake in Nexxen International by 86.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock valued at $5,687,000 after buying an additional 262,961 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Nexxen International during the 4th quarter worth about $121,000. Advisors Preferred LLC acquired a new stake in shares of Nexxen International during the 4th quarter worth about $69,000. GAMMA Investing LLC lifted its stake in Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock worth $84,000 after purchasing an additional 8,027 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company's stock valued at $466,000 after purchasing an additional 11,346 shares in the last quarter. Institutional investors and hedge funds 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.