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

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 4,817 shares, a drop of 80.6% from the February 26th total of 24,806 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 17,125 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 17,125 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

Foxx Development Stock Performance

FOXX traded up $0.10 on Wednesday, hitting $4.31. 4,171 shares of the company were exchanged, compared to its average volume of 13,987. The stock’s fifty day moving average is $4.53 and its 200-day moving average is $4.41. Foxx Development has a 12 month low of $1.71 and a 12 month high of $8.88. The company has a market cap of $30.21 million, a PE ratio of -1.91 and a beta of -0.28.

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

Insider Activity

In other news, CTO James Liao sold 9,716 shares of Foxx Development stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $4.61, for a total value of $44,790.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 13,766 shares of company stock valued at $63,184 in the last 90 days. 31.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Foxx Development stock. Citadel Advisors LLC acquired a new position in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned about 0.18% of Foxx Development at the end of the most recent reporting period. 60.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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