BOXABL (NASDAQ:BXBL) Stock Falls 6.5% – Here’s Why

BOXABL Inc. (NASDAQ:BXBL)’s share price was down 6.5% during mid-day trading on Tuesday. The company traded as low as $3.75 and last traded at $3.6480. Approximately 44,788 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 176,646 shares. The stock had previously closed at $3.90.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BXBL. Wall Street Zen raised BOXABL from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings upgraded BOXABL from a “sell (e-)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, BOXABL presently has a consensus rating of “Sell”.

BOXABL Stock Performance

The firm has a 50 day simple moving average of $4.43. The firm has a market cap of $916.70 million, a price-to-earnings ratio of -2.75 and a beta of 0.39.

BOXABL (NASDAQ:BXBL) last posted its quarterly earnings data on Friday, August 21st. The modular housing company reported ($1.38) EPS for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in BOXABL stock. Highbridge Capital Management LLC increased its holdings in shares of BOXABL Inc. (NASDAQ:BXBL) by 119.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 559,889 shares of the modular housing company’s stock after purchasing an additional 305,282 shares during the quarter. Highbridge Capital Management LLC owned approximately 21.53% of BOXABL worth $5,621,000 at the end of the most recent reporting period.

About BOXABL

BOXABL, Inc develops and manufactures factory-built modular housing designed to provide faster and potentially more efficient alternatives to conventional site-built construction. Its homes are produced in a controlled manufacturing environment, then transported to a property and assembled for residential use.

The company is best known for its Casita modular home, a compact dwelling designed for use as a standalone residence, accessory dwelling unit or other small-footprint housing solution.