Nixxy (NASDAQ:NIXX) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Nixxy (NASDAQ:NIXX) posted its earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.17, FiscalAI reports. Nixxy had a negative net margin of 15.30% and a negative return on equity of 141.48%. The business had revenue of $29.09 million for the quarter, compared to analyst estimates of $6.77 million.

Nixxy Stock Up 10.5%

NASDAQ:NIXX traded up $0.06 during mid-day trading on Wednesday, reaching $0.63. 965,596 shares of the company were exchanged, compared to its average volume of 792,113. Nixxy has a 12 month low of $0.47 and a 12 month high of $2.47. The company has a fifty day moving average of $0.73 and a 200 day moving average of $0.90. The stock has a market cap of $16.94 million, a PE ratio of -1.24 and a beta of 0.29.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Nixxy from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Nixxy

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its holdings in 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 acquiring an additional 19,320 shares during the last quarter. Virtu Financial LLC bought a new stake in Nixxy during the 4th quarter worth about $40,000. Jane Street Group LLC bought a new stake in Nixxy during the 4th quarter worth about $121,000. Finally, Geode Capital Management LLC grew its holdings in Nixxy by 15.5% during the 4th 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 last quarter. Institutional investors own 13.14% of the company’s stock.

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.