Nexxen International (NASDAQ:NEXN) Trading Down 4.3% - Should You Sell?

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report)'s stock price dropped 4.3% on Friday . The stock traded as low as $9.73 and last traded at $9.74. Approximately 480,800 shares changed hands during mid-day trading, an increase of 105% from the average daily volume of 234,174 shares. The stock had previously closed at $10.18.

Analysts Set New Price Targets

NEXN has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $16.00 target price on shares of Nexxen International in a report on Friday, May 30th. Raymond James Financial upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 target price on the stock in a report on Monday, May 5th. JMP Securities reiterated a "market outperform" rating and issued a $15.00 target price on shares of Nexxen International in a report on Friday, May 23rd. Royal Bank Of Canada upped their price objective on shares of Nexxen International from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Scotiabank started coverage on shares of Nexxen International in a report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nexxen International currently has a consensus rating of "Buy" and an average price target of $15.33.

Nexxen International Stock Performance

The stock has a market capitalization of $622.75 million, a price-to-earnings ratio of 19.26 and a beta of 1.75. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.04. The firm's fifty day moving average price is $10.67 and its 200 day moving average price is $11.86.

Institutional Investors Weigh In On Nexxen International

Hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Nexxen International in the 4th quarter valued at $110,000. Jane Street Group LLC purchased a new position in shares of Nexxen International in the 4th quarter valued at $121,000. Sei Investments Co. purchased a new position in Nexxen International during the 4th quarter worth $127,000. EntryPoint Capital LLC purchased a new position in Nexxen International during the 4th quarter worth $149,000. Finally, Bank of America Corp DE grew its position in Nexxen International by 1,898.3% during the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock worth $151,000 after purchasing an additional 14,351 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Company Profile

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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.