Nixxy Inc (NASDAQ: NIXX) has experienced a rise in its stock price by 8.56 compared to its previous closing price of 2.57. However, the company has seen a fall of -2.11% in its stock price over the last five trading days. accesswire.com reported 2024-11-01 that NEW YORK, NY / ACCESSWIRE / November 1, 2024 / Nixxy, Inc, (NASDAQ:NIXX), or the Company, today provided an update to its previously announced letter of intent to acquire the wholesale gifts business JustGot2HaveIt, Inc. (“JG”), as filed on Form 8-K on October 24, 2024 (the “Letter of Intent”), further detailing strategic elements of this acquisition and clarifying its plans for an impending spin-off. Strategic Acquisition Approach The Letter of Intent aligns with Nixxy’s strategic focus on acquiring businesses positioned for digital transformation.
Is It Worth Investing in Nixxy Inc (NASDAQ: NIXX) Right Now?
Moreover, the 36-month beta value for NIXX is 1.22. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for NIXX is 12.56M and currently, short sellers hold a 0.96% of that float. On November 15, 2024, NIXX’s average trading volume was 1.11M shares.
NIXX’s Market Performance
NIXX stock saw an increase of -2.11% in the past week, with a monthly gain of 17.72% and a quarterly increase of 44.56%. The volatility ratio for the week is 10.60%, and the volatility levels for the last 30 days are 23.35% for Nixxy Inc (NIXX). The simple moving average for the past 20 days is -1.49% for NIXX’s stock, with a 38.46% simple moving average for the past 200 days.
Analysts’ Opinion of NIXX
Many brokerage firms have already submitted their reports for NIXX stocks, with Maxim Group repeating the rating for NIXX by listing it as a “Buy.” The predicted price for NIXX in the upcoming period, according to Maxim Group is $9 based on the research report published on December 09, 2021 of the previous year 2021.
NIXX Trading at 9.23% from the 50-Day Moving Average
After a stumble in the market that brought NIXX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -67.18% of loss for the given period.
Volatility was left at 23.35%, however, over the last 30 days, the volatility rate increased by 10.60%, as shares surge +3.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.99% upper at present.
During the last 5 trading sessions, NIXX fell by -2.11%, which changed the moving average for the period of 200-days by +80.00% in comparison to the 20-day moving average, which settled at $2.83. In addition, Nixxy Inc saw 83.55% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NIXX starting from GoLogiq, Inc., who proposed sale 126,970 shares at the price of $2.75 back on Nov 06 ’24. After this action, GoLogiq, Inc. now owns shares of Nixxy Inc, valued at $349,168 using the latest closing price.
Stock Fundamentals for NIXX
Equity return is now at value -222.31, with -47.42 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.11.
Conclusion
To wrap up, the performance of Nixxy Inc (NIXX) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
