Foxx Development Holdings Inc. (NASDAQ:FOXX) Sees Large Drop in Short Interest

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 8,341 shares, a decrease of 41.0% from the September 30th total of 14,140 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 7,184 shares, the days-to-cover ratio is presently 1.2 days.

Foxx Development Trading Up 1.1%

Shares of NASDAQ:FOXX traded up $0.02 during trading on Friday, reaching $1.82. The company’s stock had a trading volume of 50,205 shares, compared to its average volume of 9,000. Foxx Development has a 12 month low of $1.71 and a 12 month high of $7.90. The firm’s 50 day simple moving average is $2.47 and its two-hundred day simple moving average is $3.65. The stock has a market capitalization of $12.87 million, a PE ratio of -0.24 and a beta of -0.34.

Foxx Development (NASDAQ:FOXX) last released its earnings results on Monday, September 28th. The company reported ($1.30) EPS for the quarter. The company had revenue of $6.98 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Foxx Development currently has an average rating of “Sell”.

About Foxx Development

Foxx Development Holdings Inc is a consumer electronics and integrated Internet-of-Things solution company catering to both retail and institutional clients. The company currently sells a diverse range of products including mobile phones, tablets and other consumer electronics devices principally in United State and is in the process of developing and distributing end-to-end communication terminals and IoT solutions. Foxx Development Holdings Inc, formerly known as Acri Capital Acquisition Corporation, is based in Austin, TX.