Foxx Development Holdings Inc. (NASDAQ:FOXX) Short Interest Up 1,495.1% in June

Foxx Development Holdings Inc. (NASDAQ:FOXX) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 79,645 shares, an increase of 1,495.1% from the May 31st total of 4,993 shares. Based on an average daily volume of 8,717,742 shares, the short-interest ratio is currently 0.0 days. Approximately 1.7% of the shares of the company are short sold.

Foxx Development Stock Up 1.7%

NASDAQ:FOXX traded up $0.05 during trading hours on Thursday, reaching $3.02. 20,889 shares of the company’s stock were exchanged, compared to its average volume of 4,874,008. The company has a market capitalization of $21.26 million, a P/E ratio of -0.44 and a beta of -0.31. Foxx Development has a 12 month low of $1.71 and a 12 month high of $8.88. The business’s 50-day simple moving average is $4.19 and its two-hundred day simple moving average is $4.48.

Foxx Development (NASDAQ:FOXX) last announced its earnings results on Wednesday, May 20th. The company reported ($5.19) EPS for the quarter. The firm had revenue of $8.67 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Foxx Development has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Foxx Development stock. Citadel Advisors LLC acquired a new stake in Foxx Development Holdings Inc. (NASDAQ:FOXX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned 0.18% of Foxx Development as of its most recent filing with the SEC. 60.44% of the stock is 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.