Insider Selling: Foxx Development (NASDAQ:FOXX) CTO Sells 1,943 Shares of Stock

Foxx Development Holdings Inc. (NASDAQ:FOXX) CTO James Liao sold 1,943 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.15, for a total transaction of $11,949.45. Following the sale, the chief technology officer owned 19,431 shares of the company’s stock, valued at $119,500.65. The trade was a 9.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Foxx Development Price Performance

Shares of Foxx Development stock traded down $0.19 on Friday, hitting $5.06. 6,637,369 shares of the company’s stock traded hands, compared to its average volume of 957,735. The firm’s 50-day moving average price is $4.68 and its two-hundred day moving average price is $4.52. The stock has a market capitalization of $35.63 million, a PE ratio of -0.74 and a beta of -0.31. Foxx Development Holdings Inc. has a one year low of $1.71 and a one year high of $8.88.

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

Hedge Funds Weigh In On Foxx Development

A hedge fund recently raised its stake in Foxx Development stock. JPMorgan Chase & Co. grew its position in Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% in the 2nd quarter, according to its most recent 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 approximately 0.07% of Foxx Development worth $27,000 at the end of the most recent quarter. Institutional investors and hedge funds own 60.44% of the company’s stock.

Analysts Set New Price Targets

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