Nexxen International (NASDAQ:NEXN) Shares Up 3.9% - Time to Buy?

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) rose 3.9% during mid-day trading on Friday . The company traded as high as $10.28 and last traded at $10.23. Approximately 164,886 shares changed hands during trading, an increase of 93% from the average daily volume of 85,236 shares. The stock had previously closed at $9.85.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Nexxen International from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Needham & Company LLC increased their target price on Nexxen International from $9.50 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.80.

Nexxen International Trading Up 4.6 %

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's 50-day moving average is $8.71 and its two-hundred day moving average is $7.50. The firm has a market cap of $683.82 million, a P/E ratio of 257.50 and a beta of 1.93.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock worth $386,000 after acquiring an additional 2,125 shares during the period. Guinness Atkinson Asset Management Inc bought a new position in Nexxen International in the 3rd quarter valued at $31,000. Blue Trust Inc. increased 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 valued at $46,000 after purchasing an additional 3,931 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Nexxen International during the 3rd quarter worth $123,000. Finally, Marshall Wace LLP purchased a new position in shares of Nexxen International in the 2nd 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.