Nexxen International (NASDAQ:NEXN) Sets New 12-Month High – Here’s What Happened

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $9.43 and last traded at $9.27, with a volume of 57701 shares trading hands. The stock had previously closed at $8.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NEXN shares. Lake Street Capital raised their price target on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada lifted their target price on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC boosted their price objective on Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Nexxen International Price Performance

The company has a current ratio of 1.43, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The stock has a market cap of $659.46 million, a price-to-earnings ratio of 247.75 and a beta of 1.86. The company’s fifty day moving average is $7.97 and its two-hundred day moving average is $7.02.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $88.58 million during the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a net margin of 3.96% and a return on equity of 7.49%. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, research analysts predict that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.