Nexxen International Ltd. (NASDAQ:NEXN) Sees Significant Growth in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 122,900 shares, a growth of 50.8% from the November 30th total of 81,500 shares. Based on an average daily volume of 153,200 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of Nexxen International by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares during the last quarter. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Nexxen International in the third quarter valued at $31,000. Blue Trust Inc. boosted its stake in shares of Nexxen International by 221.7% during 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 last quarter. JPMorgan Chase & Co. increased its position in Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after purchasing an additional 11,346 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Nexxen International in the 3rd quarter valued at about $123,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Nexxen International Price Performance

NEXN stock traded up $0.09 during midday trading on Monday, hitting $10.07. 86,619 shares of the stock were exchanged, compared to its average volume of 86,843. The stock’s 50-day moving average price is $9.15 and its 200-day moving average price is $7.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market cap of $664.80 million, a price-to-earnings ratio of 251.75 and a beta of 1.93. Nexxen International has a fifty-two week low of $4.61 and a fifty-two week high of $10.47.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC upped their price target on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research note 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.80.

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.