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

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

Analysts Set New Price Targets

A number of research firms recently commented on NIXX. Weiss Ratings raised shares of Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Nixxy from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nixxy presently has a consensus rating of “Sell”.

Nixxy Trading Down 6.7%

The company has a 50-day moving average of $1.04 and a 200-day moving average of $0.84. The company has a market capitalization of $24.47 million, a price-to-earnings ratio of -4.42 and a beta of 0.32.

Nixxy (NASDAQ:NIXX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.02 earnings per share for the quarter, topping 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 business had revenue of $29.09 million during the quarter, compared to the consensus estimate of $7.20 million.

Hedge Funds Weigh In On Nixxy

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd boosted its stake in Nixxy by 114.1% in 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 in the last quarter. Geode Capital Management LLC increased its stake in Nixxy by 15.5% during the 4th 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 in the last quarter. Virtu Financial LLC acquired a new position in Nixxy during the 4th quarter valued at approximately $40,000. Finally, Jane Street Group LLC acquired a new position in Nixxy during the 4th quarter valued at approximately $121,000. 13.14% of the stock is owned by hedge funds and other institutional investors.

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.