Nixxy (NASDAQ:NIXX) Stock Price Down 10.4% – What’s Next?

Nixxy, Inc. (NASDAQ:NIXX)’s stock price fell 10.4% during mid-day trading on Wednesday . The company traded as low as $0.54 and last traded at $0.55. Approximately 483,687 shares were traded during mid-day trading, a decline of 25% from the average session volume of 648,572 shares. The stock had previously closed at $0.6135.

Wall Street Analyst Weigh In

NIXX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 16th. Wall Street Zen lowered Nixxy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nixxy presently has a consensus rating of “Sell”.

Nixxy Trading Down 0.5%

The company’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $0.81. The firm has a market cap of $15.50 million, a P/E ratio of -4.12 and a beta of 0.41.

Nixxy (NASDAQ:NIXX) last announced its earnings results on Wednesday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. Nixxy had a negative return on equity of 74.47% and a negative net margin of 6.19%.The business had revenue of $16.09 million for the quarter, compared to the consensus estimate of $6.77 million.

Hedge Funds Weigh In On Nixxy

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd increased its position in Nixxy by 114.1% in the fourth quarter. XTX Topco Ltd now owns 36,252 shares of the company’s stock worth $35,000 after purchasing an additional 19,320 shares during the period. Virtu Financial LLC acquired a new position in Nixxy during the 4th quarter valued at about $40,000. Jane Street Group LLC bought a new position in shares of Nixxy in the 4th quarter valued at about $121,000. Finally, Geode Capital Management LLC boosted its stake in shares of Nixxy by 15.5% in the 4th quarter. Geode Capital Management LLC now owns 228,701 shares of the company’s stock valued at $220,000 after purchasing an additional 30,696 shares during the last quarter. Institutional investors own 13.14% of the company’s stock.

About Nixxy

Nixxy Inc operates an on-demand recruiting platform which aims to deliver the right talent to both small and large businesses. It provides employers access to independent recruiters and utilizes an innovative web platform, with integrated AI-driven candidate to job matching and video screening software to source qualified talent. Nixxy Inc, formerly known as Recruiter.com Group Inc, is based in Bristol, CT.