StockNews.com Initiates Coverage on Oxbridge Re (NASDAQ:OXBR)

StockNews.com initiated coverage on shares of Oxbridge Re (NASDAQ:OXBR) in a report published on Friday. The firm issued a hold rating on the insurance provider’s stock.

Separately, Maxim Group assumed coverage on shares of Oxbridge Re in a report on Wednesday, April 30th. They issued a “buy” rating and a $5.00 price target for the company.

Oxbridge Re Price Performance

Shares of OXBR stock opened at $1.93 on Friday. Oxbridge Re has a 12-month low of $1.27 and a 12-month high of $5.81. The business has a 50 day simple moving average of $1.82 and a 200 day simple moving average of $3.14. The firm has a market capitalization of $14.36 million, a price-to-earnings ratio of -2.30 and a beta of 1.54.

Oxbridge Re (NASDAQ:OXBR) last released its quarterly earnings results on Monday, May 12th. The insurance provider reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $0.69 million for the quarter, compared to the consensus estimate of $0.65 million.

Institutional Trading of Oxbridge Re

A number of hedge funds have recently bought and sold shares of OXBR. Renaissance Technologies LLC purchased a new position in shares of Oxbridge Re during the fourth quarter valued at $52,000. LPL Financial LLC purchased a new position in shares of Oxbridge Re during the 4th quarter valued at $415,000. Armistice Capital LLC acquired a new position in shares of Oxbridge Re in the first quarter worth $1,176,000. Henrickson Nauta Wealth Advisors Inc. grew its stake in Oxbridge Re by 15.9% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 68,700 shares of the insurance provider’s stock valued at $130,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Oxbridge Re by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 133,849 shares of the insurance provider’s stock valued at $541,000 after buying an additional 4,555 shares in the last quarter. 5.64% of the stock is owned by hedge funds and other institutional investors.

About Oxbridge Re

Oxbridge Re Holdings Limited, through its subsidiaries, provides specialty property and casualty reinsurance solutions. The company underwrites collateralized reinsurance contracts primarily for property and casualty insurance companies in the Gulf Coast region of the United States. It also issues reinsurance contracts through digital securities by blockchain technology.