NEXON (OTCMKTS:NEXOY) Trading Down 3.6% – Here’s What Happened

NEXON Co., Ltd. (OTCMKTS:NEXOY) dropped 3.6% during mid-day trading on Friday . The stock traded as low as C$16.25 and last traded at C$16.52. Approximately 12,384 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 34,675 shares. The stock had previously closed at C$17.13.

Analysts Set New Price Targets

NEXOY has been the topic of several recent research reports. Sanford C. Bernstein upgraded shares of NEXON from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 7th. Zacks Research raised shares of NEXON to a “hold” rating in a research note on Friday, April 10th. Finally, The Goldman Sachs Group raised shares of NEXON to a “neutral” rating in a research note on Sunday, February 15th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

NEXON Trading Down 3.6%

The company’s 50-day simple moving average is C$18.18 and its 200-day simple moving average is C$21.79.

About NEXON

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.