Nexxen International (NASDAQ:NEXN) Shares Gap Up – Here’s Why

Nexxen International Ltd. (NASDAQ:NEXN) shares gapped up before the market opened 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 traded.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Nexxen International in a research report on Monday. Finally, Needham & Company LLC lifted their price target on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One 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 currently has an average rating of “Moderate Buy” and an average target price of $10.20.

Nexxen International Price Performance

The company has a fifty day moving average price of $9.97 and a two-hundred day moving average price of $8.34. The firm has a market capitalization of $627.67 million, a price-to-earnings ratio of 240.75 and a beta of 1.90. 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 Trading of Nexxen International

A number of large investors have recently bought and sold shares of the business. Rice Hall James & Associates LLC acquired a new stake in shares of Nexxen International during the third quarter worth about $2,449,000. Renaissance Technologies LLC acquired a new stake in Nexxen International during the 2nd quarter worth approximately $810,000. Dimensional Fund Advisors LP acquired a new stake in shares of Nexxen International during the second quarter worth $451,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Nexxen International during the second quarter worth $141,000. Finally, Marshall Wace LLP acquired a new stake in shares of Nexxen International during the second quarter worth $136,000. 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.