Foxx Development Holdings Inc. (NASDAQ:FOXX) Sees Significant Decline in Short Interest

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 19,770 shares, a decrease of 41.2% from the July 15th total of 33,622 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 8,351 shares, the short-interest ratio is currently 2.4 days.

Foxx Development Stock Up 4.9%

Shares of Foxx Development stock traded up $0.12 during midday trading on Tuesday, hitting $2.63. The company had a trading volume of 14,972 shares, compared to its average volume of 658,854. The company has a fifty day simple moving average of $2.96 and a 200 day simple moving average of $4.06. The stock has a market cap of $18.53 million, a price-to-earnings ratio of -0.38 and a beta of -0.35. Foxx Development has a 12-month low of $1.71 and a 12-month high of $7.90.

Foxx Development (NASDAQ:FOXX) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($5.19) earnings per share (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 bought a new position in Foxx Development stock. Citadel Advisors LLC purchased a new position in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned 0.18% of Foxx Development as of its most recent filing with the Securities and Exchange Commission. 60.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Sell rating, According to data from 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.