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

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 9,608 shares, a growth of 103.7% from the March 31st total of 4,716 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 18,498 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Foxx Development in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Foxx Development presently has a consensus rating of “Sell”.

Foxx Development Stock Performance

Shares of NASDAQ:FOXX traded down $0.13 during midday trading on Friday, hitting $5.38. 1,060 shares of the company’s stock traded hands, compared to its average volume of 12,537. The company has a market cap of $37.71 million, a PE ratio of -2.38 and a beta of -0.17. The firm’s fifty day moving average price is $4.90 and its two-hundred day moving average price is $4.48. Foxx Development has a twelve month low of $1.71 and a twelve month high of $8.88.

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

Insider Buying and Selling at Foxx Development

In related news, CTO James Liao sold 9,716 shares of Foxx Development stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $4.61, for a total transaction of $44,790.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 13,766 shares of company stock worth $63,184. Insiders own 31.60% of the company’s stock.

Hedge Funds Weigh In On Foxx Development

A hedge fund recently raised its stake in Foxx Development stock. JPMorgan Chase & Co. boosted its position in Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,947 shares of the company’s stock after buying an additional 3,121 shares during the quarter. JPMorgan Chase & Co. owned 0.07% of Foxx Development worth $27,000 at the end of the most recent quarter. 60.44% of the stock is owned by institutional investors and hedge funds.

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.