Foxx Development Holdings Inc. (NASDAQ:FOXX) Short Interest Up 1,495.1% in June

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 79,645 shares, a growth of 1,495.1% from the May 31st total of 4,993 shares. Based on an average daily trading volume, of 8,717,742 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Foxx Development

A hedge fund recently raised its stake in Foxx Development stock. JPMorgan Chase & Co. boosted its stake in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,947 shares of the company’s stock after purchasing an additional 3,121 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.07% of Foxx Development worth $27,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 60.44% of the company’s stock.

Foxx Development Stock Up 1.7%

Shares of FOXX traded up $0.05 during mid-day trading on Thursday, reaching $3.02. 20,889 shares of the stock traded hands, compared to its average volume of 4,874,008. The firm has a market cap of $21.26 million, a price-to-earnings ratio of -0.44 and a beta of -0.31. The stock has a fifty day simple moving average of $4.19 and a 200 day simple moving average of $4.48. Foxx Development has a 12-month low of $1.71 and a 12-month high of $8.88.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Foxx Development Company Profile

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.