Research Frontiers Incorporated (NASDAQ:REFR) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,350,000 shares, a growth of 24.3% from the March 31st total of 1,890,000 shares. Currently, 9.1% of the shares of the company are sold short. Based on an average daily volume of 242,900 shares, the days-to-cover ratio is currently 9.7 days.
A number of institutional investors and hedge funds have recently modified their holdings of REFR. Cetera Advisors LLC purchased a new stake in Research Frontiers during the 4th quarter worth about $39,000. Mercer Global Advisors Inc. ADV purchased a new stake in Research Frontiers during the 3rd quarter worth about $42,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Research Frontiers by 46.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,402 shares of the technology company’s stock worth $43,000 after purchasing an additional 4,902 shares in the last quarter. NorthRock Partners LLC purchased a new stake in Research Frontiers during the 4th quarter worth about $84,000. Finally, Virtu Financial LLC purchased a new stake in Research Frontiers during the 4th quarter worth about $94,000. 16.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:REFR traded up $0.03 during trading on Tuesday, hitting $2.61. 150,222 shares of the company were exchanged, compared to its average volume of 273,399. Research Frontiers has a 52-week low of $2.01 and a 52-week high of $5.70. The company has a market cap of $82.61 million, a PE ratio of -32.25 and a beta of 1.17. The stock has a 50 day moving average of $2.87 and a 200 day moving average of $3.28.
Research Frontiers Incorporated develops and markets technology and devices to control the flow of light worldwide. The company develops and licenses suspended particle device (SPD-Smart) light-control technology to companies that manufacture and market the SPD-Smart chemical emulsion, light-control film made from the chemical emulsion, the light-control panels made by laminating the film, and electronics to power end-products incorporating the film, as well as lamination services for and the end-products, such as windows, skylights, and sunroofs.
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