Nixxy (NASDAQ:NIXX) Issues Quarterly Earnings Results

Nixxy (NASDAQ:NIXX) posted its earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07, Zacks reports. The company had revenue of $16.09 million during the quarter, compared to analyst estimates of $6.77 million. Nixxy had a negative return on equity of 75.34% and a negative net margin of 7.88%.

Nixxy Stock Performance

Shares of Nixxy stock traded up $0.07 on Thursday, hitting $0.69. The stock had a trading volume of 1,066,058 shares, compared to its average volume of 1,951,708. The stock has a 50 day moving average of $1.03 and a 200 day moving average of $0.80. The firm has a market capitalization of $20.18 million, a P/E ratio of -3.62 and a beta of 0.37. Nixxy has a twelve month low of $0.47 and a twelve month high of $1.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted 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 valued at $220,000 after buying an additional 30,696 shares during the period. Jane Street Group LLC bought a new position in Nixxy during the fourth quarter worth $121,000. Virtu Financial LLC bought a new stake in Nixxy in the fourth quarter valued at $40,000. Finally, XTX Topco Ltd increased its position in 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. Institutional investors and hedge funds own 13.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.