Foxx Development (NASDAQ:FOXX) Announces Earnings Results

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

Foxx Development Stock Performance

Shares of FOXX opened at $1.86 on Wednesday. The stock has a 50 day moving average price of $4.23 and a two-hundred day moving average price of $5.25. Foxx Development has a 52 week low of $1.82 and a 52 week high of $11.00. The firm has a market capitalization of $12.61 million, a P/E ratio of -1.11 and a beta of -0.17.

Institutional Inflows and Outflows

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% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,947 shares of the company’s stock after purchasing an additional 3,121 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Foxx Development worth $27,000 as of its most recent SEC filing. Institutional investors and hedge funds own 60.44% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Foxx Development in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

About Foxx Development

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.