BOXABL (NASDAQ:BXBL) Stock Price Down 7.6% – Here’s What Happened

Shares of BOXABL Inc. (NASDAQ:BXBL) fell 7.6% during trading on Thursday . The stock traded as low as $4.09 and last traded at $4.0270. 23,089 shares traded hands during trading, a decline of 87% from the average daily volume of 176,401 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

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

BOXABL Trading Down 7.3%

The firm has a market capitalization of $975.63 million, a PE ratio of -2.94 and a beta of 0.39.

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

Hedge Funds Weigh In On BOXABL

A number of hedge funds have recently made changes to their positions in the stock. Rivernorth Capital Management LLC grew its stake in shares of BOXABL by 28.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 642,969 shares of the modular housing company’s stock worth $6,455,000 after acquiring an additional 142,969 shares in the last quarter. Highbridge Capital Management LLC raised its stake in shares of BOXABL by 119.9% in the fourth quarter. Highbridge Capital Management LLC now owns 559,889 shares of the modular housing company’s stock valued at $5,621,000 after acquiring an additional 305,282 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in BOXABL by 19.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 254,099 shares of the modular housing company’s stock valued at $2,551,000 after purchasing an additional 41,683 shares during the period. Toronto Dominion Bank boosted its holdings in BOXABL by 15.8% in the fourth quarter. Toronto Dominion Bank now owns 190,113 shares of the modular housing company’s stock valued at $1,909,000 after purchasing an additional 25,875 shares during the period. Finally, Quarry LP grew its stake in BOXABL by 128.8% during the 3rd quarter. Quarry LP now owns 177,635 shares of the modular housing company’s stock worth $1,775,000 after purchasing an additional 100,000 shares in the last quarter.

About BOXABL

BOXABL Inc develops factory-built modular building systems designed to reduce the time, labor and transportation costs associated with traditional construction. The company’s patented folding technology allows its room-sized building modules to fit within standard highway, rail and shipping dimensions before being transported and unfolded at the installation site.

BOXABL’s flagship product is the Casita, a 361-square-foot studio unit equipped with a full kitchen, bathroom, living area and utility connections.