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Tag: OXBR

  • Oxbridge Re Holdings Ltd. (OXBR) Stock Continues Downward Spiral Despite Filing of SPAC Registration Statement

    Oxbridge Re Holdings Ltd. (OXBR) Stock Continues Downward Spiral Despite Filing of SPAC Registration Statement

    Oxbridge Re Holdings Ltd. (OXBR) stock prices were down by 2.52% as of the market closing on July 19th, 2021, bringing the price per share down to USD$3.48 at the end of the trading day. Subsequent premarket fluctuations have seen the stock fall by another 7.47%, bringing it down to USD$3.22.

    Registration Statement Filed

    July 19th, 2021 saw the company’s SPAC and indirect subsidiary, Oxbridge Acquisition, file a Registration Statement on Form S-1 with the Securities and Exchange Commission. The Registration Statement submitted to the SEC was in regard to a proposed initial public offering of the company’s units. The lead investor in Oxbridge Acquisition’s sponsor is the company’s wholly-owned licensed reinsurance subsidiary, Oxbridge Reinsurance Ltd.

    Oxbridge Expansion

    The investment is being made as a part of Oxbridge’s reinsurance business plan, wherein Oxbridge Reinsurance anticipates investing in SPACs that are sponsored and/or managed by OXBR management. The aim of these investments is to facilitate capital growth and surplus of Oxbridge Reinsurance over the long term. Following this move, Oxbridge Acquisitions plans to allocate resources towards the disruptive technology market, with a focus in the insurance technology (InsurTech), blockchain, and AI technology sectors.

    Details of the Offering

    As per the filing of Form S-1, the proposed public offering is anticipated to have a base offering size of USD$100 million, which could be bumped up to USD$115 million in the event of underwriters exercising the over-allotment option in full. With Oxbridge Acquisitions being directly initially owned by OAC sponsor, organized and initiated by the company’s executive officers, OAC is set to own 20% of the common stock issued upon the consummation of the offering.

    Improved Financials

    The quarter ended March 31st, 2021 saw the company report having generated net income in the amount of USD$28,000, representing breaking even on a per basic and diluted common share basis. This is a significant improvement from the USD$264,000 net loss reported for the same quarter of the prior year, which represented a net loss of USD$0.06 per basic and diluted common share. The year-over-year improvement was largely driven by a positive change in the fair value of the company’s equity securities, as compared to the financial markets having been devastated by the onset of the Covid-19 pandemic in the prior-year quarter.

    Future Outlook for OXBR

    Armed with confidence-inspiring improvements in its financials, OXBR is set to expand its foray into burgeoning key sectors such as cryptocurrency and insurance technology. The company is keen to expand its network of acquisitions to usher in significant and sustained growth over the long term.

  • Here is why Oxbridge Re Holdings Limited (OXBR) stock rallied on Tuesday?

    Oxbridge Re Holdings Limited (OXBR) shares surged 36.42% in after-hours on Tuesday, July 13, 2021, and closed the day at $4.57. Earlier in the morning session, OXBR’s stock gained 6.35% to close Tuesday’s session at $3.35. OXBR shares have risen 207.34% over the last 12 months, and they have moved up 20.07% in the past week. Over the past three months, the stock has gained 52.97%, while over the past six months, it has declined 63.41%.

    Let’s see what are the latest news about OXBR?

    Acquisition of Oxbridge Re Holdings Limited

    On July 13, 2021, Custodian Ventures LLC filed a Schedule 13D announcing its acquisition of approximately 9.9% of the ordinary shares outstanding of Oxbridge Re Holdings Limited.

    The Chief Executive Officer of Custodian VenturesDavid E. Lazar said that they have made a significant investment in Oxbridge Re because they believe the Company presents shareholders with an exciting opportunity for meaningful value creation. He further said that he is looking forward to continuing to constructively engage with management and the Board of Directors to actively explore potential strategic options to maximize value for all Oxbridge Re shareholders.

    Recent financial results announcement

    On May 14, 2021, Oxbridge Re Holdings Limited announced improved financial results for the three months ended March 31, 2021.

    Q1 2021 financial highlights

    • The Company generated a net income of $28,000 or $0.00 per basic and diluted common share in the first quarter of 2021 compared to a net loss of $364,000 or a loss of $0.06 per basic and diluted common share in the first quarter of 2020.
    • Net premiums were $181,000 in Q1 2021 compared to $264,000 in Q1 2020.
    • For Q1 2021, total expenses were $272,000compared to $275,000 in the first quarter of 2020.
    • The company had cash and cash equivalents, and restricted cash and cash equivalents, totalled $6.8 million on March 31, 2021, compared to $7.5 million on December 31, 2020.

    Q4 and FY 2020 financial results announcement

    On March 30, 2021, Oxbridge Re Holdings Limited reported its results for the fourth quarter and year ended December 31, 2020.

    Q4 2020 financial highlights

    • The Company generated a net income of $181,000 or $0.03 per basic and diluted common share in Q4 2020 compared to $61,000 or $0.01 per basic and diluted common share in the fourth quarter of 2019.
    • It suffered a net loss of 50,000 or $0.01 per basic and diluted common share in Q4 2020 compared with a net loss of $305,000 or $0.05 per basic and diluted common share in 2019.
    • Total expenses were 289,000 in Q4 2020 compared to $282,000 in the fourth quarter of 2019.

    Conclusion

    The acquisition of Oxbridge Re Holdings by Custodian Ventures LLC was the reason behind its top-notch performance on Tuesday. We can see it continue its momentum on Wednesday as well.

  • 23 Stocks Making Sharp Moves in Pre Market Session

    23 Stocks Making Sharp Moves in Pre Market Session

    ‎Bionano Genomics Inc. (BNGO) stock soared 46.62% to $1.95 in the pre-‎market ‎trading after reporting that Praxis Genomics, LLC received accreditation from the College of ‎American ‎Pathologists (CAP). The most recent rating by Ladenburg Thalmann, on September 24, 2020, ‎is a Buy.‎

    ‎Tenax Therapeutics Inc. (NASDAQ: TENX) shares are trading down -7.07% at $1.84 ‎at ‎the time of writing. Company’s 52-week ranged between $0.25 to $2.68.‎

    ‎Ideanomics Inc. (IDEX) stock soared 2.87% to $2.15 in the pre-market trading. ‎The ‎company recently revealed that its Mobile Energy Global (“MEG”) and its contracting entity ‎Qingdao ‎Chengyang Medici have signed an agreement with Meihao Chuxing, a joint venture between ‎BYD and ‎Didi, to purchase an initial 2,000 units of model BYD D1. ‎

    ‎Oxbridge Re Holdings Limited (OXBR) stock moved down -6.83 percent to $1.91 ‎in ‎the pre-market trading.‎

    ‎Guardion Health Sciences Inc. (NASDAQ: GHSI) shares are trading up 12.48% ‎at ‎‎$0.4289 at the time of writing. The firm lately declared the appointment of seasoned ‎nutritional ‎products industry leader Bret Scholtes as President and Chief Executive Officer. Company’s ‎‎52-week ‎ranged between $0.17 to $0.74.‎

    ‎Gevo Inc. (GEVO) is down more than -4.76% at $4.4 in pre-market ‎hours ‎Wednesday December 30, 2020. The stock had dropped over -4.15% to $4.62 in the last ‎trading ‎session.‎

    ‎Universal Security Instruments Inc. (UUU) stock moved up 5.0 percent to $5.25 ‎in ‎the pre-market trading following its statement regarding recent market activity in the ‎Company’s ‎stock.‎

    ‎Marathon Patent Group Inc. (MARA) gained over 10.03% at $12.94 in pre-‎market ‎trading Wednesday December 30, 2020. The company recently reported that it has entered ‎into a ‎contract with Bitmain to purchase 70,000 Antminer S-19 ASIC miners.‎

    Before the trading started on December 30, 2020, Ocugen Inc. (OCGN) is down -‎‎‎7.83% to reach $2.0. It has been trading in a 52-week range of $0.17 to $3.05.‎

    Before the trading started on December 30, 2020, Moderna Inc. (MRNA) is ‎up ‎‎3.59% to reach $118.5 following the declaration from the company that the it is engaged in ‎discussions ‎with the government of South Korea to potentially provide 40 million or more doses of the ‎Moderna ‎COVID-19 Vaccine to support South Korea’s aim of providing vaccines to the public as soon as ‎possible. ‎It has been trading in a 52-week range of $17.68 to $178.50.‎

    ‎Riot Blockchain Inc. (RIOT) stock soared 6.02% to $16.74 in the pre-market trading.‎

    ‎Technical Communications Corporation (NASDAQ: TCCO) shares are trading down -‎‎‎16.78% at $4.76 at the time of writing after declaring its results for the fiscal year ended September ‎‎26, ‎‎2020. Company’s 52-week ranged between $1.72 to $7.00.‎

    ‎Tonix Pharmaceuticals Holding Corp. (TNXP) is up more than 2.21% at $0.6695 ‎in ‎pre-market hours Wednesday December 30, 2020. The stock had dropped over -6.16% to $0.65 in ‎the ‎last trading session.‎

    ‎AstraZeneca PLC (AZN) gained over 2.26% at $51.03 in pre-market ‎trading ‎Wednesday December 30, 2020 after receiving approval of its coronavirus vaccine in U.K.‎

    ‎New Concept Energy Inc. (AMEX: GBR) shares are trading down -14.75% at $2.08 ‎at ‎the time of writing. Company’s 52-week ranged between $0.55 to $2.19.‎

    ‎Moleculin Biotech Inc. (MBRX) stock plunged -1.67% to $0.8279 in the pre-‎market ‎trading after declaring that that the US Food and Drug Administration (FDA) has granted ‎Orphan Drug ‎Designation (ODD) to Annamycin for treatment of soft tissue sarcomas.‎

    ‎MoSys Inc. (MOSY), a Semiconductors company, dropped about -13.22% at $2.1 ‎in ‎pre-market trading Wednesday.‎

    Before the trading started on December 30, 2020, Greenpro Capital Corp. (GRNQ) ‎is ‎down -2.15% to reach $1.82. The company lately revealed that it intends to set up a Bitcoin ‎‎($BTC) ‎Fund for investment. It has been trading in a 52-week range of $0.21 to $3.12.‎

    ‎Nxt-ID Inc. (NXTD) gained over 9.92% at $1.44 in pre-market trading ‎Wednesday ‎December 30, 2020.‎

    ‎Hepion Pharmaceuticals Inc. (HEPA) gained over 50.0% at $3.12 in pre-‎market ‎trading Wednesday December 30, 2020 after declaring positive top line data for low dose ‎CRV431 in ‎Phase 2a ‘AMBITION’ clinical trial for treatment of Advanced NASH.‎

    ‎XPeng Inc. (XPEV) is up more than 3.13% at $42.85 in pre-market hours ‎Wednesday ‎December 30, 2020. The stock had jumped over 9.31% to $41.55 in the last trading session.‎

    ‎BioNTech SE (BNTX) is up more than 3.5% at $91.37 in pre-market hours ‎Wednesday ‎December 30, 2020 following declaration from the financial magazine Caixin that Shanghai ‎Fosun ‎Pharmaceutical Group will set up a joint venture with BioNTech to produce COVID-19 vaccines in ‎China. ‎The stock had jumped over 0.19% to $88.28 in the last trading session.‎

    Before the trading started on December 30, 2020, Bit Digital Inc. (BTBT) is up ‎‎14.58% ‎to reach $12.1. It has been trading in a 52-week range of $0.28 to $12.45.‎

  • Stocks to Watch as China Industrial Data Uplifts Markets

    Stocks to Watch as China Industrial Data Uplifts Markets

    It’s a good start to the week for stock markets all across the world. In Europe, the German industrial indices are on the rise, uplifting the rest of the market with them, with the DAX currently up by over 2%. It’s the same scenario in the U.K and France where the FTSE 100 and the CAC 40 are up by 1.5% and 2% respectively.  U.S equities are headed for an equally good day if their pre-market price action is anything to go by.

    At the time of writing, the S&P 500 was up 1.35%, the Dow by 1.34%, and the NASDAQ by 1.68%. The excitement in the market is driven by positive data from China. Chinese data shows that industrial profits remain strong and that they have been on a growth path for four months in a row.

    According to the country’s statistical bureau, industrial profits increased by19.1% in August to 612.81 million yuan, compared to a similar month in 2019. This has created excitement across global markets that the COVID-19 slump in economic activity is not as bad as had been feared. As market optimism rises, stocks that have exciting news are rallying more than the rest of the market. Some of the top performers ahead of markets are as below:

    Piedmont Lithium Limited [NASDAQ: PLL]

    Piedmont Lithium Ltd is a top performer pre-market and is up by over 200%. This follows the company’s announcement that it had signed a lithium ore supply agreement with Tesla. Under the initial 5 year deal, the company will supply a third of the planned 160k tons of spodumene concrete annually from its site in North Carolina. The deal also has a clause for an extension for another 5 years. In a statement, the company stated that the deal was the first step in its supply of lithium in the U.S market. Deliveries are expected to begin in between July 2022 and July 2023.

    Urban One [NASDAQ: UONE]

    While its gains are not that huge, it is still one of the biggest gainers pre-market. This follows news about a pending patent for circle technology. If it continues its current momentum, it stands to be one of the big gainers at the start of the week.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    This is one of the biggest performers pre-market and is up by over 90%. There is no major news about the company, which makes it a momentum-driven move. If markets keep gaining in the day, it could gain big too.

  • Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    Stocks to Watch as Positive Sentiment Takes Hold in the Equity Markets

    The U.S equity markets are headed for a positive start to the day. This comes after global markets show increased optimism despite China’s decision to sanction U.S lawmakers. On top of that, the markets are optimistic that the world is inching closer to a COVID-19 vaccine and possibly a cure.

    Yesterday, a U.S biotech company announced that clinical trials on its COVID-19 cure for people with severe respiratory problems had a 100% success rate.  This comes days after major biopharma companies announced that they were working on a COVID-19 vaccine manufacture and distribution. Besides hopes of a COVID-19 vaccine, market confidence has been bolstered by President Trump’s economic bailout executive orders. In this environment of optimism, stocks with positive news are gaining momentum. Some of the top performers ahead of markets are:

    Pfenex Inc. [NYSE: PFNX]

    Pfenex Inc. is a top performer pre-market and is up by 60%. This follows news that the company would be acquired by Ligand Pharmaceuticals Incorporated for $12 a share. The acquisition will either be in cash or in equity value at a cost of $438 million. On top of that, Ligand will offer an additional $2 per share as a Contingent Value Right totaling to $78 million if certain milestones are met by December 31st, 2021. The transactions is expected to be completed in Q4. These developments could reflect in the stock price when markets open.

    Oxbridge Re Holdings Limited [NASDAQ: OXBR]

    Oxbridge Re Holdings Limited is another top performer this morning and is up by over 100% pre-market. This follows the company’s release of strong Q2 results. The company announced that in Q2, its net income increased to $165,000 compared to a loss of $205,000 in a similar quarter in 2019.  The company’s premium income also increased due to a normalized recognition of premiums in 2020.  It also announced that all through the 2020 financial year, it had not made any losses. Commenting on the results, the company CEO, Jay Madhu stated that, they were optimistic about the core reinsurance business, and that they continued to evaluate growth opportunities to help diversify risks.

    Koss Corporation [NASDAQ: KOSS]

    Koss Corporation is another pre-market mover and is up by 25%. The stock’s strong performance is largely price-action driven. Yesterday’s price action points to strengthening upside momentum as bulls took control in a highly volatile day. Its pre-market price action has seen it clear out a recent high that was acting as an intra-day resistance. This could play a role in determining the stock’s price action when markets open.