Foxx Development Holdings Inc. (NASDAQ:FOXX) Sees Large Decrease in Short Interest

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 67,779 shares, a drop of 57.4% from the November 30th total of 159,229 shares. Based on an average trading volume of 386,989 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.5% of the shares of the stock are sold short. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 386,989 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Foxx Development in a research note on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Foxx Development presently has a consensus rating of “Sell”.

Institutional Trading of Foxx Development

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

Foxx Development Trading Down 11.8%

NASDAQ FOXX traded down $0.49 on Friday, reaching $3.68. 46,116 shares of the company were exchanged, compared to its average volume of 254,823. The business’s fifty day moving average price is $4.13 and its 200 day moving average price is $5.06. The stock has a market capitalization of $24.95 million, a P/E ratio of -2.56 and a beta of -0.20. Foxx Development has a fifty-two week low of $1.71 and a fifty-two week high of $11.00.

Foxx Development (NASDAQ:FOXX) last released its quarterly earnings results on Tuesday, November 18th. The company reported ($0.42) EPS for the quarter. The firm had revenue of $20.22 million for 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.