Nixxy (NASDAQ:NIXX) Announces Quarterly Earnings Results

Nixxy (NASDAQ:NIXX) issued its earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07, Zacks reports. Nixxy had a negative return on equity of 75.34% and a negative net margin of 7.88%.

Nixxy Price Performance

Nixxy stock traded up $0.07 during mid-day trading on Wednesday, reaching $0.62. 1,269,599 shares of the company traded hands, compared to its average volume of 1,957,150. The firm’s fifty day moving average is $1.03 and its two-hundred day moving average is $0.81. The company has a market capitalization of $18.14 million, a price-to-earnings ratio of -3.28 and a beta of 0.38. Nixxy has a fifty-two week low of $0.47 and a fifty-two week high of $2.03.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NIXX. Jane Street Group LLC acquired a new position in Nixxy during the fourth quarter valued at $121,000. Virtu Financial LLC acquired a new position in shares of Nixxy in the 4th quarter valued at about $40,000. XTX Topco Ltd purchased a new stake in shares of Nixxy in the second quarter worth about $73,000. Finally, Geode Capital Management LLC grew its holdings in Nixxy by 15.5% during the fourth quarter. Geode Capital Management LLC now owns 228,701 shares of the company’s stock worth $220,000 after acquiring an additional 30,696 shares during the period. 13.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NIXX shares. Weiss Ratings raised shares of Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised Nixxy from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Nixxy Company Profile

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.