BOXABL (NASDAQ:BXBL) Stock Price Down 7.6% - Here's What Happened

Key Points

• BOXABL shares fell 7.6% to about $4.03, with trading volume plunging 87% below the average daily level.
• Analysts remain cautious: although Wall Street Zen upgraded the stock to “hold” and Weiss Ratings improved its rating slightly, BOXABL’s overall analyst consensus remains “Sell.”
• The modular housing company reported a quarterly loss of $1.38 per share; meanwhile, several hedge funds increased their BOXABL positions during recent quarters.

Shares of BOXABL Inc. (NASDAQ:BXBL - Get Free Report) fell 7.6% during trading on Thursday . The stock traded as low as $4.09 and last traded at $4.0270. 23,089 shares traded hands during trading, a decline of 87% from the average daily volume of 176,401 shares. The stock had previously closed at $4.36.

Analysts Set New Price Targets

A number of analysts have recently commented on BXBL shares. Wall Street Zen upgraded BOXABL from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of BOXABL from a "sell (e-)" rating to a "sell (e+)" rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

BOXABL Trading Down 7.3%

The firm has a market capitalization of $975.63 million, a PE ratio of -2.94 and a beta of 0.39.

BOXABL (NASDAQ:BXBL - Get Free Report) last issued its earnings results on Friday, August 21st. The modular housing company reported ($1.38) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On BOXABL

A number of hedge funds have recently made changes to their positions in the stock. Rivernorth Capital Management LLC grew its stake in shares of BOXABL by 28.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 642,969 shares of the modular housing company's stock worth $6,455,000 after acquiring an additional 142,969 shares in the last quarter. Highbridge Capital Management LLC raised its stake in shares of BOXABL by 119.9% in the fourth quarter. Highbridge Capital Management LLC now owns 559,889 shares of the modular housing company's stock valued at $5,621,000 after acquiring an additional 305,282 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in BOXABL by 19.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 254,099 shares of the modular housing company's stock valued at $2,551,000 after purchasing an additional 41,683 shares during the period. Toronto Dominion Bank boosted its holdings in BOXABL by 15.8% in the fourth quarter. Toronto Dominion Bank now owns 190,113 shares of the modular housing company's stock valued at $1,909,000 after purchasing an additional 25,875 shares during the period. Finally, Quarry LP grew its stake in BOXABL by 128.8% during the 3rd quarter. Quarry LP now owns 177,635 shares of the modular housing company's stock worth $1,775,000 after purchasing an additional 100,000 shares in the last quarter.

About BOXABL

BOXABL Inc develops factory-built modular building systems designed to reduce the time, labor and transportation costs associated with traditional construction. The company’s patented folding technology allows its room-sized building modules to fit within standard highway, rail and shipping dimensions before being transported and unfolded at the installation site.

BOXABL’s flagship product is the Casita, a 361-square-foot studio unit equipped with a full kitchen, bathroom, living area and utility connections.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.