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

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 86,407 shares, an increase of 27.5% from the December 15th total of 67,779 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 70,908 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 70,908 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Foxx Development in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Foxx Development Stock Performance

FOXX opened at $4.01 on Tuesday. The stock has a fifty day moving average of $4.19 and a 200-day moving average of $4.91. The company has a market capitalization of $27.19 million, a P/E ratio of -2.78 and a beta of -0.21. Foxx Development has a fifty-two week low of $1.71 and a fifty-two week high of $11.00.

Foxx Development (NASDAQ:FOXX) last released its quarterly earnings results on Tuesday, November 18th. The company reported ($0.42) EPS for the quarter. The company had revenue of $20.22 million for the quarter.

Institutional Investors Weigh In On Foxx Development

An institutional investor recently raised its position in Foxx Development stock. JPMorgan Chase & Co. increased its stake in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) by 170.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,947 shares of the company’s stock after buying an additional 3,121 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of Foxx Development worth $27,000 at the end of the most recent reporting period. 60.44% of the stock is currently owned by hedge funds and other institutional investors.

About Foxx Development

Foxx Development, Inc (NASDAQ: FOXX) operates as a contract manufacturer specializing in the design, assembly and distribution of medical devices and components. The company’s core business centers on phlebotomy and blood collection products, serving clinical laboratories, hospitals and diagnostic testing facilities. Its product portfolio includes evacuated blood collection tubes, safety-engineered winged blood collection sets, syringes and ancillary devices used in specimen collection and handling.

Founded in North Carolina, Foxx Development maintains a manufacturing and distribution campus in Apex, where it integrates engineering, quality control and regulatory compliance under one roof.