NEXON (OTCMKTS:NEXOY) Shares Up 8.5% – Here’s What Happened

Shares of NEXON Co., Ltd. (OTCMKTS:NEXOY) rose 8.5% during trading on Tuesday . The stock traded as high as C$15.22 and last traded at C$15.21. Approximately 1,171 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 41,818 shares. The stock had previously closed at C$14.02.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of NEXON to a “hold” rating in a research report on Friday, April 10th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

NEXON Stock Up 7.8%

The stock’s fifty day moving average is C$14.00 and its 200-day moving average is C$17.92. The stock has a market cap of C$13.01 billion and a price-to-earnings ratio of 16.24.

NEXON (OTCMKTS:NEXOY) last posted its earnings results on Thursday, May 14th. The company reported C$0.46 earnings per share (EPS) for the quarter. The business had revenue of C$970.34 million during the quarter, compared to analyst estimates of C$1.05 billion.

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.