Foxx Development Holdings Inc. (NASDAQ:FOXX) Short Interest Down 47.5% in July

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 33,622 shares, a drop of 47.5% from the June 30th total of 64,095 shares. Based on an average trading volume of 25,613 shares, the short-interest ratio is presently 1.3 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Foxx Development

An institutional investor recently raised its position in Foxx Development stock. JPMorgan Chase & Co. lifted its stake in Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,947 shares of the company’s stock after acquiring 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 reporting period. Hedge funds and other institutional investors own 60.44% of the company’s stock.

Foxx Development Stock Performance

Shares of Foxx Development stock traded up $0.13 during trading on Friday, reaching $2.70. The company’s stock had a trading volume of 6,658 shares, compared to its average volume of 715,245. The business’s fifty day moving average price is $3.16 and its 200-day moving average price is $4.20. The firm has a market cap of $19.03 million, a price-to-earnings ratio of -0.39 and a beta of -0.39. Foxx Development has a one year low of $1.71 and a one year high of $8.54.

Foxx Development (NASDAQ:FOXX) last posted its quarterly earnings data on Wednesday, May 20th. The company reported ($5.19) earnings per share for the quarter. The company had revenue of $8.67 million during the quarter.

Analyst Ratings Changes

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