Nexxen International (NASDAQ:NEXN) Shares Gap Up – Here’s Why

Shares of Nexxen International Ltd. (NASDAQ:NEXN) gapped up before the market opened on Tuesday . The stock had previously closed at $9.26, but opened at $9.67. Nexxen International shares last traded at $9.57, with a volume of 35,928 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price target on shares of Nexxen International in a research note on Monday. Needham & Company LLC lifted their price objective on Nexxen International from $9.50 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their price target on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Stock Performance

The stock’s 50 day simple moving average is $9.97 and its two-hundred day simple moving average is $8.34. The company has a market cap of $627.67 million, a PE ratio of 240.75 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.

Institutional Investors Weigh In On Nexxen International

A number of institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC acquired a new position in shares of Nexxen International in the 3rd quarter valued at about $2,449,000. Renaissance Technologies LLC acquired a new stake in shares of Nexxen International in the second quarter worth $810,000. Dimensional Fund Advisors LP purchased a new position in shares of Nexxen International in the 2nd quarter valued at $451,000. JPMorgan Chase & Co. lifted its holdings in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after acquiring an additional 11,346 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in 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 period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.