Nexxen International (NASDAQ:NEXN) Experiences Significant Trading Volume Surge

Nexxen International Ltd. (NASDAQ:NEXN) witnessed a notable increase in trading activity, particularly on Friday, with approximately 186,039 shares exchanged hands during mid-day trading. This marks a remarkable 32% rise compared to the previous session's volume of 140,512 shares. The stock was last recorded at $9.11, slightly down from its prior close of $9.16.

Insights from Wall Street Analysts

The surge in trading volume comes as several research analysts have recently weighed in on the company's stock. Notably, Royal Bank of Canada raised its target price on Nexxen International shares from $22.00 to $26.00, affirming an “outperform” rating in a report dated January 3rd. Similarly, Needham & Company LLC also increased their target price from $19.00 to $24.00 and gave the stock a “buy” rating in their report released on December 10th. Additionally, JMP Securities reiterated a “market outperform” rating, setting a target price of $22.00 on January 27th. Current data indicates that one analyst rates the stock as holding while four others attribute a buy rating to the company. According to MarketBeat.com, Nexxen International holds a consensus rating of “Moderate Buy” alongside an average price target set at $20.40.

Recent Stock Performance

Despite the recent uptick in trading activity, Nexxen International's stock has experienced a decline of 2.4%. The company boasts a market capitalization of approximately $576.90 million, a P/E ratio of 223.50, and a beta value of 1.89. Current moving averages indicate that the fifty-day moving average price stands at $18.64, with the two-hundred day moving average at $17.14. Furthermore, the company's current ratio and quick ratio both sit at 1.43, while the debt-to-equity ratio is relatively low at 0.04.

Institutional Investor Activity

There has also been a notable shift in institutional investing for Nexxen International. Various hedge funds and institutional investors have either acquired or increased their stakes in the firm. For instance, Tidal Investments LLC amplified its position in the third quarter by 4.6%, resulting in ownership of 48,072 shares valued at $386,000 after acquiring an additional 2,125 shares. Blue Trust Inc. made a more substantial move, increasing its stake by 221.7% in the same quarter, bringing its total to 5,704 shares valued at $46,000 after an addition of 3,931 shares. Additionally, Concepts Advisors acquired a new stake in Nexxen valued at $69,000 during the fourth quarter. Notably, GAMMA Investing LLC expanded its position by a staggering 2,021.9% during the fourth quarter, holding 8,424 shares valued at $84,000 after purchasing 8,027 shares. Finally, Virtu Financial LLC established a new position valued at $110,000. Presently, institutional investors and hedge funds control 54.24% of the company's stock.

About Nexxen International

Nexxen International Ltd. specializes in providing an end-to-end software platform that enables advertisers to reach publishers, particularly in the region of Israel. Their demand-side platform (DSP) offers both full-service and self-managed market access to advertisers and agencies, allowing them to execute digital marketing campaigns in real-time across various ad formats.

Nexxen, Stocks, Volume