Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Short Interest Up 29.3% in February

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,967,948 shares, an increase of 29.3% from the January 29th total of 1,521,712 shares. Based on an average daily trading volume, of 357,915 shares, the days-to-cover ratio is currently 5.5 days. Currently, 3.5% of the shares of the stock are sold short. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 357,915 shares, the days-to-cover ratio is currently 5.5 days.

Nexxen International Stock Performance

Shares of NASDAQ:NEXN opened at $6.47 on Tuesday. The business has a 50-day moving average of $6.19 and a two-hundred day moving average of $7.54. The firm has a market capitalization of $367.17 million, a PE ratio of 10.78 and a beta of 1.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. Nexxen International has a 12 month low of $5.60 and a 12 month high of $12.60.

Nexxen International announced that its board has initiated a stock repurchase program on Thursday, November 20th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEXN. Royal Bank Of Canada lowered their price objective on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Canaccord Genuity Group reduced their target price on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Needham & Company LLC cut their price target on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Craig Hallum downgraded Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Thursday, November 13th. Finally, BTIG Research decreased their target price on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Institutional Trading of Nexxen International

A number of institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new stake in shares of Nexxen International in the second quarter worth about $25,000. Quantbot Technologies LP purchased a new position in Nexxen International in the 3rd quarter valued at about $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Nexxen International during the second quarter valued at about $90,000. Jump Financial LLC acquired a new stake in shares of Nexxen International during the fourth quarter valued at about $95,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Nexxen International during the third quarter worth about $102,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.