Nexxen International (NASDAQ:NEXN) Stock Price Down 8.1% – Should You Sell?

Nexxen International Ltd. (NASDAQ:NEXN) traded down 8.1% during trading on Thursday . The stock traded as low as $9.10 and last traded at $9.18. 202,510 shares changed hands during trading, an increase of 54% from the average session volume of 131,374 shares. The stock had previously closed at $9.99.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC upped their price objective on shares of Nexxen International from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $20.40.

Nexxen International Stock Performance

The company has a 50-day moving average of $9.95 and a 200 day moving average of $8.75. The firm has a market capitalization of $599.23 million, a PE ratio of 232.13 and a beta of 1.89. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in Nexxen International in the 4th quarter worth approximately $593,000. Numerai GP LLC purchased a new position in Nexxen International in the fourth quarter worth $315,000. Millennium Management LLC raised its position in Nexxen International by 45.7% during the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock valued at $989,000 after purchasing an additional 30,973 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in Nexxen International during the fourth quarter valued at about $210,000. Finally, Bank of America Corp DE boosted its holdings in shares of Nexxen International by 1,898.3% in the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock worth $151,000 after purchasing an additional 14,351 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.

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.