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

Nixxy, Inc. (NASDAQ:NIXX) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 223,076 shares, a decrease of 50.4% from the August 31st total of 449,683 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 390,767 shares, the short-interest ratio is currently 0.6 days.

Nixxy Stock Performance

Shares of NIXX stock traded down $0.01 during trading hours on Thursday, reaching $0.31. The company had a trading volume of 114,698 shares, compared to its average volume of 1,695,095. The business has a fifty day moving average price of $0.57 and a 200-day moving average price of $0.79. Nixxy has a one year low of $0.29 and a one year high of $1.97. The firm has a market cap of $9.02 million, a PE ratio of -2.40 and a beta of 0.41.

Nixxy (NASDAQ:NIXX) last issued its quarterly earnings data 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 net margin of 6.19% and a negative return on equity of 74.47%. The company had revenue of $16.09 million for the quarter, compared to the consensus estimate of $6.77 million.

Wall Street Analysts Forecast Growth

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

Nixxy Company Profile

Nixxy, Inc (NASDAQ: NIXX) is a diversified holding company focused on acquiring, developing and operating businesses with growth potential. Its activities span areas such as technology, digital media and consumer products.

The company seeks to support its businesses through strategic investment, operational guidance and the development of products and services designed for consumer and commercial markets. Its portfolio approach allows Nixxy to pursue opportunities across multiple industries rather than focusing on a single product line.

Nixxy was formerly known as Vinco Ventures, Inc and adopted its current name as part of a broader corporate repositioning.