Foxx Development (NASDAQ:FOXX) Announces Quarterly Earnings Results

Foxx Development (NASDAQ:FOXX) released its quarterly earnings data on Tuesday. The company reported ($0.42) earnings per share for the quarter, Zacks reports.

Foxx Development Trading Down 15.5%

Shares of FOXX traded down $0.34 during mid-day trading on Tuesday, reaching $1.86. 31,968 shares of the stock traded hands, compared to its average volume of 185,508. The company has a market cap of $12.61 million, a price-to-earnings ratio of -1.11 and a beta of -0.17. Foxx Development has a 1 year low of $1.82 and a 1 year high of $11.00. The firm has a fifty day moving average price of $4.30 and a 200 day moving average price of $5.27.

Hedge Funds Weigh In On Foxx Development

An institutional investor recently bought a new position in Foxx Development stock. Citadel Advisors LLC purchased a new position in Foxx Development Holdings Inc. (NASDAQ:FOXX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned about 0.18% of Foxx Development at the end of the most recent reporting period. 60.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Foxx Development in a report on Thursday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Foxx Development presently has an average rating of “Sell”.

About Foxx Development

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.