Nixxy (NASDAQ:NIXX) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Nixxy (NASDAQ:NIXX) announced its earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.07, Zacks reports. Nixxy had a negative net margin of 7.88% and a negative return on equity of 75.34%.

Nixxy Trading Up 12.3%

NIXX stock traded up $0.07 during trading on Wednesday, reaching $0.62. The stock had a trading volume of 1,269,599 shares, compared to its average volume of 1,957,150. The firm has a fifty day moving average price of $1.03 and a 200 day moving average price of $0.81. The company has a market capitalization of $18.14 million, a P/E ratio of -3.28 and a beta of 0.38. Nixxy has a 1-year low of $0.47 and a 1-year high of $2.03.

Institutional Trading of Nixxy

A number of hedge funds and other institutional investors have recently modified their holdings of NIXX. XTX Topco Ltd acquired a new stake in Nixxy in the second quarter valued at $73,000. Geode Capital Management LLC increased its position 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 buying an additional 30,696 shares during the period. Jane Street Group LLC bought a new stake in Nixxy in the fourth quarter valued at $121,000. Finally, Virtu Financial LLC bought a new stake in Nixxy in the fourth quarter valued at $40,000. 13.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NIXX shares. Wall Street Zen raised Nixxy from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings raised Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

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.