Nixxy, Inc. (NASDAQ:NIXX) Sees Significant Decline in Short Interest

Nixxy, Inc. (NASDAQ:NIXX) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 106,524 shares, a drop of 52.2% from the September 15th total of 223,076 shares. Based on an average daily trading volume, of 486,676 shares, the short-interest ratio is currently 0.2 days. Currently, 0.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NIXX shares. Weiss Ratings upgraded Nixxy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Nixxy from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Nixxy Price Performance

NIXX stock traded up $0.00 during mid-day trading on Wednesday, reaching $0.21. The company had a trading volume of 461,844 shares, compared to its average volume of 1,636,126. The firm has a 50 day moving average of $0.50 and a 200 day moving average of $0.76. Nixxy has a 12 month low of $0.17 and a 12 month high of $1.96. The company has a market capitalization of $6.05 million, a PE ratio of -1.61 and a beta of 0.41.

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

Nixxy Company Profile

Nixxy, Inc is a technology-focused holding company that develops, acquires and operates businesses in the workforce solutions and recruiting sectors. Through its operating businesses, the company provides services intended to connect employers with candidates and support organizations with talent acquisition and staffing needs.

The company was formerly known as Recruiter.com Group, Inc and operated the Recruiter.com online recruiting platform. That platform offered recruiting-related tools and services for employers, recruiters and job seekers, including access to job listings, recruitment resources and talent-sourcing solutions.

Nixxy’s business strategy centers on building a portfolio of operating companies and expanding technology-enabled services.