Short Interest in Fox Factory Holding Corp. (NASDAQ:FOXF) Expands By 30.3%

Fox Factory Holding Corp. (NASDAQ:FOXF) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 3,788,250 shares, an increase of 30.3% from the March 15th total of 2,906,984 shares. Currently, 9.1% of the shares of the company are sold short. Based on an average daily volume of 826,892 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Federated Hermes Inc. bought a new position in Fox Factory in the 3rd quarter worth approximately $25,000. First Horizon Corp bought a new position in Fox Factory in the 3rd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its position in shares of Fox Factory by 188.1% during the 4th quarter. Hantz Financial Services Inc. now owns 2,057 shares of the company’s stock valued at $35,000 after acquiring an additional 1,343 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Fox Factory by 108.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,075 shares of the company’s stock valued at $36,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Fox Factory by 693.3% during the 4th quarter. Covestor Ltd now owns 2,943 shares of the company’s stock valued at $50,000 after acquiring an additional 2,572 shares during the last quarter.

Analyst Upgrades and Downgrades

FOXF has been the topic of a number of recent research reports. Roth Mkm decreased their target price on Fox Factory from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. Zacks Research raised Fox Factory from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fox Factory in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.50.

Fox Factory Price Performance

Shares of NASDAQ:FOXF traded down $0.90 during trading on Wednesday, reaching $16.70. The stock had a trading volume of 721,591 shares, compared to its average volume of 616,556. Fox Factory has a 52 week low of $13.08 and a 52 week high of $31.18. The business’s 50-day moving average price is $17.52 and its 200 day moving average price is $18.49. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37. The stock has a market capitalization of $700.23 million, a PE ratio of -1.28 and a beta of 1.46.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The company had revenue of $361.07 million during the quarter, compared to analysts’ expectations of $353.88 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Fox Factory’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Fox Factory will post 1.31 earnings per share for the current year.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.