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

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

Nixxy Stock Performance

Shares of NIXX stock traded down $0.02 during mid-day trading on Monday, hitting $0.52. The company’s stock had a trading volume of 214,461 shares, compared to its average volume of 1,784,858. The company’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.81. Nixxy has a 52 week low of $0.47 and a 52 week high of $1.97. The company has a market cap of $14.91 million, a PE ratio of -3.97 and a beta of 0.41.

Nixxy (NASDAQ:NIXX) last released its earnings results on Wednesday, August 12th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The business had revenue of $16.09 million during the quarter, compared to analysts’ expectations of $6.77 million. Nixxy had a negative return on equity of 74.47% and a negative net margin of 6.19%.

Analysts Set New Price Targets

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