Foxx Development (NASDAQ:FOXX) Shares Down 1.1% – Here’s Why

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Foxx Development from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Foxx Development Stock Performance

The firm’s 50 day moving average price is $3.53 and its two-hundred day moving average price is $4.31. The firm has a market cap of $19.78 million, a PE ratio of -0.41 and a beta of -0.39.

Foxx Development (NASDAQ:FOXX) last released its quarterly 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.

Institutional Investors Weigh In On Foxx Development

An institutional investor recently bought a new position in Foxx Development stock. Citadel Advisors LLC bought a new stake in Foxx Development Holdings Inc. (NASDAQ:FOXX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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 SEC filing. 60.44% of the stock is owned by hedge funds and other institutional investors.

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.