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

Foxx Development Holdings Inc. (NASDAQ:FOXX) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 8,341 shares, a decline of 41.0% from the September 30th total of 14,140 shares. Based on an average daily volume of 7,184 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.2% of the company’s shares are short sold.

Foxx Development Stock Up 13.7%

Shares of Foxx Development stock opened at $2.13 on Tuesday. The firm has a market capitalization of $15.03 million, a P/E ratio of -0.27 and a beta of -0.34. Foxx Development has a 52 week low of $1.71 and a 52 week high of $7.90. The firm’s 50 day moving average is $2.44 and its two-hundred day moving average is $3.64.

Foxx Development (NASDAQ:FOXX) last released its quarterly earnings data on Monday, September 28th. The company reported ($1.30) earnings per share (EPS) for the quarter. The business had revenue of $6.98 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company 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. Foxx Development Holdings Inc, formerly known as Acri Capital Acquisition Corporation, is based in Austin, TX.