Foxx Development (NASDAQ:FOXX) Trading Up 0.2% – Here’s Why

Foxx Development Holdings Inc. (NASDAQ:FOXX)’s stock price rose 0.2% during mid-day trading on Friday . The stock traded as high as $4.19 and last traded at $4.09. Approximately 16,998 shares were traded during trading, a decline of 46% from the average daily volume of 31,477 shares. The stock had previously closed at $4.08.

Wall Street Analysts Forecast Growth

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

Foxx Development Price Performance

The stock’s 50-day moving average price is $4.18 and its 200 day moving average price is $4.92. The firm has a market capitalization of $27.73 million, a PE ratio of -2.84 and a beta of -0.21.

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

Institutional Trading of Foxx Development

A hedge fund recently bought a new stake in Foxx Development stock. Citadel Advisors LLC purchased a new stake in Foxx Development Holdings Inc. (NASDAQ:FOXX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned approximately 0.18% of Foxx Development as of its most recent filing with the SEC. Institutional investors and hedge funds own 60.44% of the company’s stock.

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.