Nixxy (NASDAQ:NIXX) Shares Down 6.7% – What’s Next?

Nixxy, Inc. (NASDAQ:NIXX) traded down 6.7% on Thursday . The company traded as low as $0.75 and last traded at $0.8403. Approximately 1,183,729 shares traded hands during trading, a decline of 41% from the average session volume of 2,007,762 shares. The stock had previously closed at $0.9002.

Analyst Upgrades and Downgrades

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

Nixxy Trading Down 6.7%

The firm’s 50-day moving average price is $1.04 and its two-hundred day moving average price is $0.84. The stock has a market cap of $24.47 million, a PE ratio of -4.42 and a beta of 0.32.

Nixxy (NASDAQ:NIXX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.00) by $3.02. The company had revenue of $29.09 million for the quarter, compared to analyst estimates of $7.20 million. Nixxy had a negative net margin of 7.88% and a negative return on equity of 75.34%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd lifted its stake in shares of Nixxy by 114.1% during the 4th 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 last quarter. Geode Capital Management LLC grew its stake in Nixxy by 15.5% in the fourth 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. Virtu Financial LLC purchased a new position in Nixxy in the fourth quarter valued at about $40,000. Finally, Jane Street Group LLC bought a new position in Nixxy in the fourth quarter worth about $121,000. 13.14% of the stock is owned by institutional investors.

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.