Nixxy (NASDAQ:NIXX) Issues Earnings Results

Nixxy (NASDAQ:NIXX) announced its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 Stock Up 12.3%

Shares of Nixxy stock traded up $0.07 during trading on Wednesday, hitting $0.62. The stock had a trading volume of 1,269,599 shares, compared to its average volume of 1,957,150. Nixxy has a 1 year low of $0.47 and a 1 year high of $2.03. The stock has a 50 day simple moving average of $1.03 and a 200 day simple moving average of $0.81. The company has a market capitalization of $18.14 million, a PE ratio of -3.28 and a beta of 0.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NIXX. Weiss Ratings upgraded shares of Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of 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 MarketBeat.com, Nixxy currently has an average rating of “Sell”.

Hedge Funds Weigh In On Nixxy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Nixxy during the fourth quarter valued at $121,000. Virtu Financial LLC purchased a new stake in Nixxy in the 4th quarter worth about $40,000. XTX Topco Ltd acquired a new stake in Nixxy during the 2nd quarter worth about $73,000. Finally, Geode Capital Management LLC boosted its position 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 period. Institutional investors and hedge funds 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.