Nixxy (NASDAQ:NIXX) Stock Price Up 12% – Here’s Why

Nixxy, Inc. (NASDAQ:NIXX)’s share price traded up 12% during mid-day trading on Wednesday . The stock traded as high as $1.75 and last traded at $1.68. Approximately 2,846,286 shares traded hands during trading, a decline of 67% from the average session volume of 8,747,930 shares. The stock had previously closed at $1.50.

Analyst Upgrades and Downgrades

NIXX has been the topic of a number of research reports. Wall Street Zen raised shares of Nixxy from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nixxy in a research note on Friday, May 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nixxy Stock Performance

The stock has a fifty day moving average price of $0.85 and a 200-day moving average price of $0.82. The firm has a market capitalization of $44.26 million, a PE ratio of -8.00 and a beta of 0.32.

Nixxy (NASDAQ:NIXX) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.02 EPS 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 firm had revenue of $29.09 million during the quarter, compared to analyst estimates of $7.20 million.

Institutional Trading of Nixxy

Several hedge funds have recently modified their holdings of NIXX. XTX Topco Ltd boosted its holdings in shares of Nixxy by 114.1% in the 4th quarter. XTX Topco Ltd now owns 36,252 shares of the company’s stock valued at $35,000 after buying an additional 19,320 shares in the last quarter. Virtu Financial LLC acquired a new stake in Nixxy in the fourth quarter valued at approximately $40,000. Jane Street Group LLC purchased a new position in Nixxy in the fourth quarter worth $121,000. Finally, 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 worth $220,000 after purchasing an additional 30,696 shares during the last quarter. 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.