Foxx Development (NASDAQ:FOXX) Releases Quarterly Earnings Results

Foxx Development (NASDAQ:FOXX) posted its earnings results on Tuesday. The company reported ($0.42) earnings per share for the quarter, Zacks reports.

Foxx Development Trading Down 15.5%

Shares of FOXX stock traded down $0.34 during trading on Tuesday, hitting $1.86. The company’s stock had a trading volume of 31,968 shares, compared to its average volume of 185,508. The company has a market cap of $12.61 million, a PE ratio of -1.11 and a beta of -0.17. The business has a fifty day moving average of $4.30 and a 200-day moving average of $5.27. Foxx Development has a 52 week low of $1.82 and a 52 week high of $11.00.

Institutional Investors Weigh In On Foxx Development

An institutional investor recently raised its position in Foxx Development stock. JPMorgan Chase & Co. raised its holdings in shares of 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 & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission. 60.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Foxx Development in a research report on Thursday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Foxx Development presently has an average rating of “Sell”.

Foxx Development Company Profile

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.