Nixxy (NASDAQ:NIXX) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Nixxy (NASDAQ:NIXX) released its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.17, FiscalAI reports. Nixxy had a negative return on equity of 141.48% and a negative net margin of 15.30%.The company had revenue of $29.09 million for the quarter, compared to analyst estimates of $6.77 million.

Nixxy Stock Performance

NIXX traded up $0.06 during midday trading on Wednesday, reaching $0.63. The company had a trading volume of 965,596 shares, compared to its average volume of 562,126. The business has a 50-day moving average of $0.73 and a two-hundred day moving average of $0.90. Nixxy has a 1 year low of $0.47 and a 1 year high of $2.47.

Hedge Funds Weigh In On Nixxy

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in shares of Nixxy by 114.1% in the fourth quarter. XTX Topco Ltd now owns 36,252 shares of the company’s stock worth $35,000 after acquiring an additional 19,320 shares during the period. Virtu Financial LLC purchased a new stake in shares of Nixxy in the fourth quarter worth about $40,000. Jane Street Group LLC purchased a new stake in shares of Nixxy in the fourth quarter worth about $121,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. Institutional investors own 13.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Nixxy from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.