Short Interest in Nixxy, Inc. (NASDAQ:NIXX) Decreases By 58.2%

Nixxy, Inc. (NASDAQ:NIXX) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 449,683 shares, a decline of 58.2% from the August 15th total of 1,074,968 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 643,722 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NIXX. Weiss Ratings raised Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. Wall Street Zen cut Nixxy from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Nixxy Stock Down 15.1%

NIXX traded down $0.08 during midday trading on Tuesday, reaching $0.44. The company had a trading volume of 792,385 shares, compared to its average volume of 394,001. Nixxy has a 12-month low of $0.42 and a 12-month high of $1.97. The business has a 50-day moving average price of $0.78 and a two-hundred day moving average price of $0.81.

Nixxy (NASDAQ:NIXX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.08) 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 for the quarter, compared to the consensus estimate of $6.77 million.

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.