Nexxen International (NASDAQ:NEXN) Shares Rise 3.9% - Is It Still a Good Investment?

Nexxen International Ltd. (NASDAQ:NEXN) experienced a notable increase in its share price, rising by 3.9% during mid-day trading last Friday. The stock reached a peak of $10.28 before closing at $10.23, which is substantially higher than the previous close of $9.85. During the trading session, about 164,886 shares changed hands, indicating a remarkable 93% increase in volume compared to the average daily volume of 85,236 shares.

Wall Street Analysts Predict Growth

Numerous research firms have provided insights into Nexxen International's potential for growth. Needham & Company LLC recently raised its price target for NEXN from $9.50 to $12.00, giving it a "buy" rating. Similarly, the Royal Bank of Canada upgraded its price target from $9.00 to $11.00, while maintaining an "outperform" rating, which they announced on August 23rd. Lake Street Capital has also increased its price objective from $7.00 to $9.00, assigning a "buy" rating to the stock. Currently, one analyst has a hold rating, while four analysts suggest buying the stock, leading to an overall average rating of "Moderate Buy" with a target price of $9.80 according to MarketBeat data.

Nexxen International Stock Performance

The market capitalization of Nexxen International stands at $683.15 million. The stock has a price-to-earnings ratio of 246.25 and a beta of 1.93, indicating higher volatility compared to the market. Its moving averages show a recent 50-day average at $8.66 and a 200-day average at $7.48. Notably, the company maintains a debt-to-equity ratio of 0.04, with both a current ratio and quick ratio at 1.43, showcasing a healthy short-term financial position.

Institutional Investors Active in Nexxen International

In recent months, several hedge funds have either acquired or increased their stakes in Nexxen International. Tidal Investments LLC enhanced its position in the third quarter, now holding 48,072 shares valued at $386,000 after buying an additional 2,125 shares. Similarly, Guinness Atkinson Asset Management Inc. purchased a new stake worth approximately $31,000. Blue Trust Inc. more than doubled its holdings by 221.7%, acquiring 5,704 shares totaling $46,000. Quadrature Capital Ltd. and Marshall Wace LLP both entered fresh positions in the stock, valued at $123,000 and $136,000, respectively. Overall, institutional investors hold about 54.24% of the company's stock.

Nexxen International Overview

Nexxen International Ltd. operates an end-to-end software platform that helps advertisers connect with publishers in Israel. Its demand-side platform (DSP) provides advertisers and agencies with tools for executing digital marketing campaigns in real time, across a variety of ad formats.

Should You Invest in Nexxen International?

Before considering an investment in Nexxen International, it is important to evaluate its market position. While analysts currently rate the stock as a "Moderate Buy," it's worth noting that some top-rated analysts are recommending other stocks that may offer better investing opportunities.

Nexxen, Stocks, Investment