Nixxy, Inc. (NASDAQ:NIXX) Stock Short Interest Drops 52.2%

Nixxy, Inc. (NASDAQ:NIXX) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 106,524 shares, a drop of 52.2% from the September 15th total of 223,076 shares. Based on an average trading volume of 486,676 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the company’s shares are short sold.

Nixxy Stock Performance

NIXX stock traded up $0.04 during midday trading on Thursday, reaching $0.24. 2,353,763 shares of the company were exchanged, compared to its average volume of 1,639,807. Nixxy has a 1-year low of $0.17 and a 1-year high of $1.96. The stock’s 50-day simple moving average is $0.50 and its 200 day simple moving average is $0.75. The company has a market cap of $7.08 million, a price-to-earnings ratio of -1.88 and a beta of 0.41.

Nixxy (NASDAQ:NIXX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.07. Nixxy had a negative net margin of 6.19% and a negative return on equity of 74.47%. The business had revenue of $16.09 million during the quarter, compared to analysts’ expectations of $6.77 million.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NIXX. Wall Street Zen lowered Nixxy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Nixxy in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nixxy Company Profile

Nixxy, Inc is a technology-focused holding company that develops, acquires and operates businesses in the workforce solutions and recruiting sectors. Through its operating businesses, the company provides services intended to connect employers with candidates and support organizations with talent acquisition and staffing needs.

The company was formerly known as Recruiter.com Group, Inc and operated the Recruiter.com online recruiting platform. That platform offered recruiting-related tools and services for employers, recruiters and job seekers, including access to job listings, recruitment resources and talent-sourcing solutions.

Nixxy’s business strategy centers on building a portfolio of operating companies and expanding technology-enabled services.