Nixxy (NASDAQ:NIXX) Trading Down 20.1% – Here’s What Happened

Nixxy, Inc. (NASDAQ:NIXX)’s share price traded down 20.1% during trading on Tuesday . The company traded as low as $0.69 and last traded at $0.7101. 7,353,630 shares were traded 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen raised Nixxy from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nixxy in a research note on Friday, May 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Nixxy Price Performance

The firm has a market cap of $26.49 million, a price-to-earnings ratio of -4.79 and a beta of 0.43. The firm’s fifty day moving average is $0.70 and its 200-day moving average is $0.80.

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

Hedge Funds Weigh In On Nixxy

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Nixxy in the second quarter valued at approximately $73,000. Virtu Financial LLC acquired a new position in Nixxy in the fourth quarter valued at approximately $40,000. Jane Street Group LLC acquired a new position in shares of Nixxy during the fourth quarter valued at about $121,000. Finally, Geode Capital Management LLC raised its holdings in shares of Nixxy by 15.5% during 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. 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.