Foxx Development (NASDAQ:FOXX) Stock Price Down 11.9% – Should You Sell?

Foxx Development Holdings Inc. (NASDAQ:FOXX)’s stock price dropped 11.9% during trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.82. Approximately 21,920 shares traded 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Foxx Development from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Foxx Development Trading Down 11.9%

The firm’s 50-day moving average price is $4.82 and its 200 day moving average price is $4.52. The company has a market capitalization of $19.77 million, a price-to-earnings ratio of -0.41 and a beta of -0.10.

Foxx Development (NASDAQ:FOXX) last issued its earnings results 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 bought a new stake in Foxx Development Holdings Inc. (NASDAQ:FOXX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,025 shares of the company’s stock, valued at approximately $57,000. Citadel Advisors LLC owned approximately 0.18% of Foxx Development at the end of the most recent quarter. Hedge funds and other institutional investors 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.