Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase - Still a Buy?

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) saw strong trading volume on Wednesday . 418,565 shares changed hands during mid-day trading, an increase of 91% from the previous session's volume of 219,519 shares.The stock last traded at $10.22 and had previously closed at $10.51.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $16.00 price objective on shares of Nexxen International in a research note on Friday, May 30th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Nexxen International in a research note on Friday, May 23rd. Raymond James Financial upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research note on Monday, May 5th. Craig Hallum assumed coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Canaccord Genuity Group boosted their price objective on shares of Nexxen International from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Nexxen International has an average rating of "Buy" and an average price target of $15.33.

Nexxen International Trading Up 2.0%

The business's 50-day moving average price is $10.73 and its 200 day moving average price is $12.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market capitalization of $662.10 million, a price-to-earnings ratio of 20.47 and a beta of 1.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Nexxen International by 234.6% in the first quarter. GAMMA Investing LLC now owns 28,190 shares of the company's stock valued at $235,000 after acquiring an additional 19,766 shares in the last quarter. Millennium Management LLC increased its stake in Nexxen International by 45.7% during the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company's stock valued at $989,000 after purchasing an additional 30,973 shares during the last quarter. Sei Investments Co. bought a new position in shares of Nexxen International during the fourth quarter worth about $127,000. Bank of America Corp DE grew its position in shares of Nexxen International by 1,898.3% during the fourth quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock worth $151,000 after acquiring an additional 14,351 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Nexxen International during the fourth quarter worth about $121,000. 54.24% of the stock is owned by institutional investors and hedge funds.

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.