Nixxy, Inc. (NASDAQ:NIXX) Stock Short Interest Drops 41.3%

Nixxy, Inc. (NASDAQ:NIXX) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 62,529 shares, a decline of 41.3% from the September 30th total of 106,524 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 550,469 shares, the days-to-cover ratio is presently 0.1 days.

Nixxy Price Performance

Shares of NIXX traded up $0.01 during mid-day trading on Tuesday, hitting $0.23. 62,887 shares of the company’s stock were exchanged, compared to its average volume of 1,567,899. The company has a 50-day simple moving average of $0.39 and a 200 day simple moving average of $0.70. The company has a market cap of $6.53 million, a PE ratio of -1.73 and a beta of 0.41. Nixxy has a 52 week low of $0.17 and a 52 week high of $1.75.

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

Wall Street Analyst Weigh In

NIXX has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nixxy in a research note on Wednesday, October 14th. Wall Street Zen lowered Nixxy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Nixxy

Nixxy, Inc (NASDAQ: NIXX) is a diversified holding company focused on acquiring, developing and operating businesses in technology, media and consumer-oriented sectors. The company seeks to build value through strategic acquisitions and operational support of its portfolio businesses.

Nixxy was formerly known as Recruiter.com Group, Inc Its historical operations were centered on recruitment and workforce solutions, including an online platform that connected employers with recruiters and provided hiring-related services.