Short Interest in Nixxy, Inc. (NASDAQ:NIXX) Grows By 24.5%

Nixxy, Inc. (NASDAQ:NIXX) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 2,004,854 shares, an increase of 24.5% from the March 31st total of 1,610,574 shares. Currently, 7.7% of the shares of the stock are short sold. Based on an average daily volume of 1,384,169 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Nixxy from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Nixxy

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Nixxy in the 2nd quarter valued at about $73,000. Geode Capital Management LLC raised its stake in Nixxy by 15.5% in the 4th quarter. Geode Capital Management LLC now owns 228,701 shares of the company’s stock valued at $220,000 after purchasing an additional 30,696 shares during the last quarter. Jane Street Group LLC acquired a new position in Nixxy in the 4th quarter valued at about $121,000. Finally, Virtu Financial LLC acquired a new position in Nixxy in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 13.14% of the company’s stock.

Nixxy Stock Performance

NIXX stock traded up $0.00 during midday trading on Friday, hitting $0.60. 362,183 shares of the stock were exchanged, compared to its average volume of 861,556. The stock’s 50-day moving average price is $0.72 and its 200-day moving average price is $0.96. The stock has a market cap of $16.22 million, a price-to-earnings ratio of -1.18 and a beta of 0.30. Nixxy has a fifty-two week low of $0.47 and a fifty-two week high of $2.47.

Nixxy (NASDAQ:NIXX) last issued its quarterly earnings data on Wednesday, April 15th. The company reported ($0.15) earnings per share (EPS) for the quarter. The firm had revenue of $51.13 million for the quarter. Nixxy had a negative return on equity of 141.48% and a negative net margin of 15.30%.

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.