Nexxen International (NASDAQ:NEXN) Trading Down 8.1% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Nexxen International Stock Performance

The stock has a market cap of $576.90 million, a price-to-earnings ratio of 223.50 and a beta of 1.89. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $18.87 and a 200 day simple moving average of $17.16.

Institutional Trading of Nexxen International

Several institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in Nexxen International by 221.7% in the third quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock valued at $46,000 after acquiring an additional 3,931 shares during the period. Advisors Preferred LLC bought a new position in shares of Nexxen International in the 4th quarter valued at about $69,000. GAMMA Investing LLC grew its holdings in Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after acquiring an additional 8,027 shares during the period. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the fourth quarter worth $110,000. Finally, D.A. Davidson & CO. acquired a new position in shares of Nexxen International during the 4th quarter worth about $121,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.