NEXON (OTCMKTS:NEXOY) Shares Down 4% – Time to Sell?

NEXON Co., Ltd. (OTCMKTS:NEXOY)’s stock price was down 4% during mid-day trading on Tuesday . The company traded as low as C$19.39 and last traded at C$19.79. Approximately 51,393 shares were traded during trading, an increase of 68% from the average daily volume of 30,649 shares. The stock had previously closed at C$20.60.

Analysts Set New Price Targets

NEXOY has been the subject of a number of recent research reports. Morgan Stanley raised NEXON to an “overweight” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group raised NEXON to a “neutral” rating in a research note on Sunday, February 15th. Finally, Sanford C. Bernstein upgraded NEXON from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

NEXON Stock Down 4.0%

The company has a 50 day moving average of C$24.18 and a 200-day moving average of C$23.19.

NEXON Company Profile

NEXON Co, Ltd. operates as a global developer and publisher of online games, primarily focusing on free-to-play multiplayer titles across PC and mobile platforms. The company’s portfolio spans a range of genres, including massively multiplayer online role-playing games (MMORPGs), action titles and sports simulations. NEXON generates revenue through in-game purchases and virtual item sales, offering players optional enhancements, cosmetic items and game passes.

Founded in 1994 by Kim Jung-ju in South Korea, NEXON released its first major title, Nexus: The Kingdom of the Winds, in 1996.