Foxx Development (NASDAQ:FOXX) Stock Price Down 11.9% – Time to Sell?
by Amy Steele · The Cerbat GemFoxx Development Holdings Inc. (NASDAQ:FOXX – Get Free Report)’s stock price dropped 11.9% on Wednesday . The stock traded as low as $2.60 and last traded at $2.82. Approximately 21,920 shares changed hands during mid-day trading, an increase of 108% from the average daily volume of 10,535 shares. The stock had previously closed at $3.20.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Analysis on FOXX
Foxx Development Trading Down 4.2%
The firm’s fifty day moving average price is $4.79 and its 200 day moving average price is $4.52. The stock has a market capitalization of $18.54 million, a price-to-earnings ratio of -0.39 and a beta of -0.10.
Foxx Development (NASDAQ:FOXX – Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The company reported ($5.19) EPS for the quarter. The firm had revenue of $8.67 million for the quarter.
Hedge Funds Weigh In On Foxx Development
A hedge fund recently bought a new stake in Foxx Development stock. Citadel Advisors LLC acquired a new position in Foxx Development Holdings Inc. (NASDAQ:FOXX – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned about 0.18% of Foxx Development as of its most recent filing with the Securities and Exchange Commission. 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.