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

Nixxy (NASDAQ:NIXX) announced its earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.17, FiscalAI reports. Nixxy had a negative return on equity of 69.03% and a negative net margin of 7.87%.The business had revenue of $29.09 million during the quarter, compared to the consensus estimate of $6.77 million.

Nixxy Price Performance

NIXX stock traded up $0.03 during trading on Friday, hitting $0.61. The stock had a trading volume of 665,498 shares, compared to its average volume of 796,834. Nixxy has a twelve month low of $0.47 and a twelve month high of $2.47. The stock has a market capitalization of $16.38 million, a P/E ratio of -1.19 and a beta of 0.29. The company’s 50-day moving average price is $0.73 and its two-hundred day moving average price is $0.89.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Nixxy

A number of hedge funds have recently made changes to their positions in NIXX. Geode Capital Management LLC boosted its stake 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 acquiring 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 $121,000. Virtu Financial LLC purchased a new position in Nixxy in the 4th quarter valued at $40,000. Finally, XTX Topco Ltd boosted its stake in Nixxy by 114.1% during the 4th quarter. XTX Topco Ltd now owns 36,252 shares of the company’s stock worth $35,000 after purchasing an additional 19,320 shares during the last quarter. Institutional investors and hedge funds own 13.14% of the company’s stock.

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.