BOXABL (NASDAQ:BXBL) Shares Down 6.5% – Here’s Why

BOXABL Inc. (NASDAQ:BXBL) shares were down 6.5% during trading on Tuesday. The company traded as low as $3.75 and last traded at $3.6480. Approximately 44,788 shares changed hands during trading, a decline of 75% from the average daily volume of 176,646 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

Several brokerages have recently commented on BXBL. Weiss Ratings upgraded shares of BOXABL from a “sell (e-)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Wall Street Zen raised shares of BOXABL from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

BOXABL Stock Performance

The company has a 50-day simple moving average of $4.29. The company has a market cap of $789.68 million, a PE ratio of -2.37 and a beta of 0.39.

BOXABL (NASDAQ:BXBL) last announced its quarterly earnings results on Friday, August 21st. The modular housing company reported ($1.38) earnings per share (EPS) for the quarter.

Institutional Trading of BOXABL

An institutional investor recently raised its stake in BOXABL stock. Highbridge Capital Management LLC boosted its position in BOXABL Inc. (NASDAQ:BXBL) by 119.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 559,889 shares of the modular housing company’s stock after acquiring an additional 305,282 shares during the quarter. Highbridge Capital Management LLC owned 21.53% of BOXABL worth $5,621,000 as of its most recent filing with the Securities & Exchange Commission.

BOXABL Company Profile

BOXABL, Inc develops and manufactures factory-built modular housing designed to provide faster and potentially more efficient alternatives to conventional site-built construction. Its homes are produced in a controlled manufacturing environment, then transported to a property and assembled for residential use.

The company is best known for its Casita modular home, a compact dwelling designed for use as a standalone residence, accessory dwelling unit or other small-footprint housing solution.