Nexi (OTCMKTS:NEXXY) Trading Up 1.4% – Here’s Why

Shares of Nexi S.p.A. (OTCMKTS:NEXXY) rose 1.4% during trading on Wednesday . The stock traded as high as $4.40 and last traded at $4.40. Approximately 733 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 847 shares. The stock had previously closed at $4.3375.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEXXY. Morgan Stanley reissued an “underweight” rating on shares of Nexi in a research note on Friday, January 9th. Citigroup reiterated a “buy” rating on shares of Nexi in a research report on Tuesday, December 16th. Finally, BNP Paribas Exane lowered Nexi to a “neutral” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nexi has an average rating of “Hold”.

Nexi Stock Performance

The stock has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $5.37.

About Nexi

Nexi S.p.A. (OTCMKTS:NEXXY) is a European PayTech company specializing in digital payment solutions for merchants, banks and public administrations. The company provides end-to-end processing services for card payments, point-of-sale terminals, e-commerce gateways and mobile wallet applications. Nexi’s platform integrates acquiring and issuing capabilities, enabling businesses to accept and manage a wide range of payment methods, including contactless, chip and PIN, and tokenized transactions.

Founded in 2017 through the merger of Italy’s Istituto Centrale delle Banche Popolari Italiane (ICBPI) and CartaSi, Nexi embarked on a strategy to consolidate payment services across Europe.