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

BOXABL Inc. (NASDAQ:BXBL)’s share price gapped down before the market opened on Wednesday. The stock had previously closed at $3.74, but opened at $3.58. BOXABL shares last traded at $3.2450, with a volume of 79,312 shares trading hands.

Wall Street Analysts Forecast Growth

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

BOXABL Stock Down 11.4%

The company has a market capitalization of $800.54 million, a price-to-earnings ratio of -2.40 and a beta of 0.39. The business’s 50-day simple moving average is $4.34.

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

Institutional Investors Weigh In On BOXABL

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

About BOXABL

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.