Mon Sep 30 04:26:51 UTC 2024: ## Short Interest in Fox Factory Holding Corp. (FOXF) Drops Significantly

**[City, State] -** Fox Factory Holding Corp. (NASDAQ:FOXF) saw a significant decrease in short interest during September, according to MarketBeat News. As of September 15th, short interest stood at 3,140,000 shares, a 9.2% drop from the August 31st total of 3,460,000 shares. This represents 7.6% of the company’s outstanding shares.

The decrease in short interest could be interpreted as a sign of increased investor confidence in Fox Factory’s future performance. The company, which designs and manufactures performance-defining products for various vehicle types, recently reported strong quarterly earnings, exceeding analysts’ expectations.

In addition to the decline in short interest, Fox Factory’s CEO, Michael C. Dennison, purchased 4,800 shares of the company’s stock on August 6th, further demonstrating his belief in the company’s prospects.

Institutional investors have also been active in Fox Factory, with several making significant changes to their positions. Notable among these is Norges Bank, which acquired a new stake worth $31,429,000 in the fourth quarter.

Fox Factory’s stock closed at $41.81 on Friday, up $0.20 from the previous day. The company has a market cap of $1.74 billion and a price-to-earnings ratio of 23.36.

Analysts are optimistic about Fox Factory’s future, predicting earnings per share of 1.56 for the current year.

This positive sentiment surrounding Fox Factory is reflected in the recent decline in short interest and the increased activity of institutional investors.

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