Nexxen International (NASDAQ:NEXN) Sets New 1-Year High Following Analyst Upgrade

Nexxen International Ltd. (NASDAQ:NEXN)’s stock price hit a new 52-week high on Saturday after Royal Bank of Canada raised their price target on the stock from $11.00 to $13.00. Royal Bank of Canada currently has an outperform rating on the stock. Nexxen International traded as high as $10.49 and last traded at $10.39, with a volume of 261730 shares. The stock had previously closed at $9.91.

Separately, Needham & Company LLC increased their price target on shares of Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NEXN. Rock Point Advisors LLC purchased a new position in Nexxen International during the second quarter valued at approximately $3,562,000. Rice Hall James & Associates LLC bought a new stake in shares of Nexxen International during the 3rd quarter valued at $2,449,000. Renaissance Technologies LLC purchased a new position in shares of Nexxen International during the 2nd quarter valued at $810,000. Dimensional Fund Advisors LP bought a new position in Nexxen International in the 2nd quarter worth $451,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International in the 2nd quarter worth $141,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Trading Up 4.8 %

The stock has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $7.89. The firm has a market capitalization of $683.63 million, a P/E ratio of 259.75 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.

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.