Foxx Development Holdings Inc. (NASDAQ:FOXX) Stock Short Interest Declines 41.0%

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

Foxx Development Stock Performance

Shares of NASDAQ FOXX traded up $0.05 during midday trading on Monday, hitting $1.87. 3,785 shares of the stock traded hands, compared to its average volume of 495,660. Foxx Development has a one year low of $1.71 and a one year high of $7.90. The firm has a 50-day moving average of $2.47 and a two-hundred day moving average of $3.65. The firm has a market capitalization of $13.22 million, a P/E ratio of -0.25 and a beta of -0.26.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Foxx Development 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.