Boxlight (NASDAQ:BOXL) Trading Down 13.3% – Here’s What Happened

Boxlight Corporation (NASDAQ:BOXL) shares were down 13.3% during mid-day trading on Friday . The company traded as low as $0.6620 and last traded at $0.68. Approximately 138,893 shares were traded during trading, an increase of 16% from the average daily volume of 119,538 shares. The stock had previously closed at $0.7839.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BOXL shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Boxlight in a research report on Wednesday, April 8th. Wall Street Zen upgraded Boxlight from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Boxlight Stock Performance

The stock has a market cap of $2.72 million, a P/E ratio of -0.03 and a beta of 0.77. The firm has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.95. The company has a debt-to-equity ratio of 26.20, a quick ratio of 0.72 and a current ratio of 1.63.

Boxlight (NASDAQ:BOXL) last announced its quarterly earnings data on Friday, May 15th. The company reported ($2.25) earnings per share for the quarter, topping the consensus estimate of ($6.51) by $4.26. The firm had revenue of $22.44 million for the quarter, compared to analyst estimates of $22.42 million.

Hedge Funds Weigh In On Boxlight

A number of hedge funds have recently modified their holdings of BOXL. Scientech Research LLC acquired a new position in shares of Boxlight in the 3rd quarter worth approximately $33,000. Cary Street Partners Financial LLC acquired a new stake in Boxlight during the 3rd quarter worth $72,000. Finally, Anson Funds Management LP acquired a new stake in Boxlight during the 3rd quarter worth $802,000. 6.49% of the stock is owned by institutional investors and hedge funds.

About Boxlight

Boxlight Corporation (NASDAQ: BOXL) is a technology company specializing in interactive display solutions and collaborative learning systems. The company designs, manufactures and distributes a range of hardware and software products aimed at enhancing engagement in educational and corporate environments. Boxlight’s portfolio includes interactive flat-panel displays, digital whiteboards, ultra-short-throw projectors and touch-enabled accessories that facilitate hands-on instruction and group collaboration.

Complementing its hardware offerings, Boxlight provides proprietary software platforms such as ClassFlow, which enable cloud-based lesson delivery, real-time assessment and content management.