Short Interest in Nixxy, Inc. (NASDAQ:NIXX) Increases By 45.6%

Nixxy, Inc. (NASDAQ:NIXX) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 1,610,574 shares, an increase of 45.6% from the March 15th total of 1,106,220 shares. Based on an average daily volume of 1,760,713 shares, the days-to-cover ratio is presently 0.9 days. Currently, 6.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NIXX. Wall Street Zen downgraded Nixxy from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Nixxy in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nixxy presently has an average rating of “Sell”.

Nixxy Price Performance

Shares of NIXX traded up $0.01 during mid-day trading on Tuesday, reaching $0.91. The company had a trading volume of 873,849 shares, compared to its average volume of 1,493,018. Nixxy has a twelve month low of $0.47 and a twelve month high of $2.47. The company’s 50-day moving average is $0.70 and its 200-day moving average is $1.04. The company has a market capitalization of $22.52 million, a P/E ratio of -1.78 and a beta of 0.65.

Hedge Funds Weigh In On Nixxy

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Nixxy by 15.5% in the 4th 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 in the last quarter. Jane Street Group LLC acquired a new position in shares of Nixxy in the 4th quarter worth approximately $121,000. Virtu Financial LLC acquired a new position in shares of Nixxy in the 4th quarter worth approximately $40,000. Finally, XTX Topco Ltd raised 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 worth $35,000 after buying an additional 19,320 shares in the last quarter. 13.14% of the stock is owned by institutional investors and hedge funds.

About Nixxy

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.