Short Interest in Foxx Development Holdings Inc. (NASDAQ:FOXX) Drops By 21.7%

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a large decrease in short interest in January. As of January 15th, there was short interest totaling 67,690 shares, a decrease of 21.7% from the December 31st total of 86,407 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 16,377 shares, the days-to-cover ratio is presently 4.1 days. Based on an average daily trading volume, of 16,377 shares, the days-to-cover ratio is presently 4.1 days. Currently, 1.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

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

Foxx Development Trading Up 8.5%

Shares of FOXX traded up $0.35 during mid-day trading on Friday, reaching $4.47. 7,807 shares of the stock traded hands, compared to its average volume of 15,241. The company has a market cap of $30.31 million, a price-to-earnings ratio of -3.10 and a beta of -0.21. Foxx Development has a 1 year low of $1.71 and a 1 year high of $8.88. The firm has a fifty day moving average price of $4.50 and a 200 day moving average price of $4.87.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Foxx Development in a research note 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.