Foxx Development (NASDAQ:FOXX) Shares Down 1.1% – Time to Sell?

Foxx Development Holdings Inc. (NASDAQ:FOXX)’s stock price dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $2.75 and last traded at $2.81. 9,370 shares changed hands during trading, a decline of 73% from the average daily volume of 35,057 shares. The stock had previously closed at $2.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Foxx Development Trading Down 2.8%

The business’s 50-day simple moving average is $3.48 and its two-hundred day simple moving average is $4.30. The firm has a market cap of $19.22 million, a price-to-earnings ratio of -0.40 and a beta of -0.39.

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

Hedge Funds Weigh In On Foxx Development

An institutional investor recently bought a new stake in Foxx Development stock. Citadel Advisors LLC purchased a new stake in shares of Foxx Development Holdings Inc. (NASDAQ:FOXX) during the third quarter, according to the company in its most recent disclosure with the Securities & 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 quarter. Institutional investors and hedge funds own 60.44% of the company’s stock.

Foxx Development Company Profile

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.