Nexi (OTCMKTS:NEXXY) Trading Down 1.9% – Here’s Why

Nexi S.p.A. (OTCMKTS:NEXXY)’s stock price dropped 1.9% during mid-day trading on Monday . The company traded as low as $4.75 and last traded at $4.75. Approximately 611 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 6,992 shares. The stock had previously closed at $4.84.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEXXY shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Nexi in a research report on Monday, May 11th. Jefferies Financial Group reiterated a “hold” rating on shares of Nexi in a research note on Wednesday, April 29th. Finally, Citigroup reissued a “neutral” rating on shares of Nexi in a research report on Wednesday, August 12th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Nexi Stock Performance

The company’s 50 day moving average is $4.37 and its 200 day moving average is $4.13.

About Nexi

Nexi S.p.A. (OTCMKTS:NEXXY) is a European PayTech company specializing in digital payment solutions for merchants, banks and public administrations. The company provides end-to-end processing services for card payments, point-of-sale terminals, e-commerce gateways and mobile wallet applications. Nexi’s platform integrates acquiring and issuing capabilities, enabling businesses to accept and manage a wide range of payment methods, including contactless, chip and PIN, and tokenized transactions.

Founded in 2017 through the merger of Italy’s Istituto Centrale delle Banche Popolari Italiane (ICBPI) and CartaSi, Nexi embarked on a strategy to consolidate payment services across Europe.