Short Interest in Foxx Development Holdings Inc. (NASDAQ:FOXX) Drops By 47.5%

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a significant 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. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,613 shares, the short-interest ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position 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 disclosure 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 quarter. JPMorgan Chase & Co. owned 0.07% of Foxx Development worth $27,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 60.44% of the company’s stock.

Foxx Development Trading Down 8.7%

Shares of NASDAQ FOXX traded down $0.23 during midday trading on Wednesday, reaching $2.35. 5,206 shares of the stock were exchanged, compared to its average volume of 725,491. The stock has a 50 day moving average price of $3.22 and a 200-day moving average price of $4.22. The company has a market capitalization of $16.58 million, a P/E ratio of -0.34 and a beta of -0.39. Foxx Development has a 52-week low of $1.71 and a 52-week high of $8.88.

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

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.