Short Interest in Foxx Development Holdings Inc. (NASDAQ:FOXX) Declines By 47.5%

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 33,622 shares, a decrease of 47.5% from the June 30th total of 64,095 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 25,613 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Foxx Development stock. JPMorgan Chase & Co. raised its stake in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,947 shares of the company’s stock after buying an additional 3,121 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Foxx Development worth $27,000 as of its most recent SEC filing. Institutional investors own 60.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Foxx Development presently has an average rating of “Sell”.

Foxx Development Price Performance

Foxx Development stock traded up $0.43 during mid-day trading on Thursday, hitting $2.77. The company’s stock had a trading volume of 20,065 shares, compared to its average volume of 720,379. The firm’s 50 day moving average is $3.19 and its 200 day moving average is $4.21. The company has a market cap of $19.47 million, a PE ratio of -0.40 and a beta of -0.39. Foxx Development has a 52-week low of $1.71 and a 52-week high of $8.54.

Foxx Development (NASDAQ:FOXX) last released its earnings results on Wednesday, May 20th. The company reported ($5.19) earnings per share for the quarter. The business had revenue of $8.67 million during the quarter.

About Foxx Development

Foxx Development, Inc (NASDAQ: FOXX) operates as a contract manufacturer specializing in the design, assembly and distribution of medical devices and components. The company’s core business centers on phlebotomy and blood collection products, serving clinical laboratories, hospitals and diagnostic testing facilities. Its product portfolio includes evacuated blood collection tubes, safety-engineered winged blood collection sets, syringes and ancillary devices used in specimen collection and handling.

Founded in North Carolina, Foxx Development maintains a manufacturing and distribution campus in Apex, where it integrates engineering, quality control and regulatory compliance under one roof.