Nixxy (NASDAQ:NIXX) Stock Price Down 20.1% – What’s Next?

Nixxy, Inc. (NASDAQ:NIXX)’s stock price traded down 20.1% during mid-day trading on Tuesday . The stock traded as low as $0.69 and last traded at $0.7101. 7,353,630 shares changed hands during mid-day trading, an increase of 827% from the average session volume of 793,224 shares. The stock had previously closed at $0.8884.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Nixxy in a research note on Friday, May 15th. Wall Street Zen upgraded Nixxy from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nixxy currently has an average rating of “Sell”.

Nixxy Stock Down 20.1%

The firm has a 50-day moving average of $0.71 and a two-hundred day moving average of $0.80. The company has a market capitalization of $19.09 million, a PE ratio of -3.74 and a beta of 0.43.

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

Institutional Trading of Nixxy

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings 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 period. Jane Street Group LLC acquired a new stake in Nixxy in the fourth quarter valued at approximately $121,000. XTX Topco Ltd acquired a new stake in Nixxy in the second quarter valued at approximately $73,000. Finally, Virtu Financial LLC acquired a new stake in Nixxy in the fourth quarter valued at approximately $40,000. 13.14% of the stock is owned by institutional investors and hedge funds.

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.