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Tag: Oxbridge Re Holdings Limited

  • 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.

  • 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.