Foxx Development Holdings Inc. (NASDAQ:FOXX) Short Interest Down 60.2% in February

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 24,806 shares, a drop of 60.2% from the February 12th total of 62,275 shares. Based on an average trading volume of 12,207 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.5% of the shares of the stock are short sold. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 12,207 shares, the days-to-cover ratio is currently 2.0 days.

Foxx Development Stock Performance

Foxx Development stock traded up $0.07 during midday trading on Thursday, reaching $3.88. 36,512 shares of the company were exchanged, compared to its average volume of 13,073. The firm’s 50-day simple moving average is $4.55 and its 200-day simple moving average is $4.52. Foxx Development has a 1 year low of $1.71 and a 1 year high of $8.88. The company has a market capitalization of $27.20 million, a price-to-earnings ratio of -1.72 and a beta of -0.28.

Foxx Development (NASDAQ:FOXX) last released its earnings results on Friday, February 13th. The company reported ($0.62) earnings per share (EPS) for the quarter. The business had revenue of $16.72 million for the quarter.

Insider Transactions at Foxx Development

In other Foxx Development news, CTO James Liao sold 9,716 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $4.61, for a total value of $44,790.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.60% of the company’s stock.

Institutional Trading of Foxx Development

A hedge fund recently raised its stake in Foxx Development stock. JPMorgan Chase & Co. raised its holdings in Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,947 shares of the company’s stock after acquiring an additional 3,121 shares during the period. JPMorgan Chase & Co. owned 0.07% of Foxx Development worth $27,000 at the end of the most recent reporting period. 60.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Foxx Development in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Foxx Development has a consensus rating of “Sell”.

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.