Nexxen International Ltd. (NASDAQ:NEXN) Sees Large Decline in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 48,000 shares, a decrease of 15.3% from the May 31st total of 56,700 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 66,200 shares, the short-interest ratio is presently 0.7 days.

Nexxen International Price Performance

Shares of NASDAQ NEXN traded down $0.06 during mid-day trading on Tuesday, reaching $5.85. The company’s stock had a trading volume of 103,559 shares, compared to its average volume of 64,916. The business has a 50-day simple moving average of $5.99. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.05. Nexxen International has a 1-year low of $3.15 and a 1-year high of $7.76.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Monday, May 20th. The company reported ($0.02) EPS for the quarter. The business had revenue of $74.43 million during the quarter, compared to analyst estimates of $73.35 million. Nexxen International had a negative net margin of 3.12% and a positive return on equity of 4.86%. On average, equities analysts predict that Nexxen International will post 0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

NEXN has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $6.50 price target on shares of Nexxen International in a report on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $8.00 price objective on shares of Nexxen International in a research report on Friday, June 21st. JMP Securities restated a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a research report on Friday, June 14th. Finally, Stifel Nicolaus upped their price objective on shares of Nexxen International from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, May 21st.

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.