Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 57,800 shares, a drop of 23.5% from the October 15th total of 75,600 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 68,400 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

NEXN has been the topic of several analyst reports. Lake Street Capital lifted their price target on shares of Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Needham & Company LLC lifted their price target on shares of Nexxen International from $8.50 to $9.50 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.30.

Nexxen International Price Performance

NASDAQ:NEXN traded down $0.19 during trading hours on Friday, hitting $7.48. 382,318 shares of the stock were exchanged, compared to its average volume of 67,383. The firm’s fifty day moving average price is $7.86 and its 200 day moving average price is $6.95. Nexxen International has a 52-week low of $3.37 and a 52-week high of $8.69. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.04. The company has a market cap of $498.32 million, a P/E ratio of 187.00 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a positive return on equity of 5.92% and a negative net margin of 0.57%. During the same quarter in the previous year, the business posted $0.03 earnings per share. As a group, equities research analysts anticipate that Nexxen International will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC purchased a new position in shares of Nexxen International in the 2nd quarter valued at approximately $3,562,000. Rice Hall James & Associates LLC acquired a new position in shares of Nexxen International in the third quarter worth $2,449,000. Renaissance Technologies LLC purchased a new position in shares of Nexxen International during the second quarter valued at approximately $810,000. Dimensional Fund Advisors LP acquired a new stake in shares of Nexxen International in the second quarter worth approximately $451,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Nexxen International during the second quarter valued at about $141,000. Hedge funds and other institutional investors 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.