Oxbridge Re Holdings Limited (NASDAQ:OXBR) Sees Large Decline in Short Interest

Oxbridge Re Holdings Limited (NASDAQ:OXBR) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 20,782 shares, a drop of 50.2% from the August 31st total of 41,747 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 25,739 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OXBR shares. Weiss Ratings upgraded shares of Oxbridge Re from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Zacks Research lowered Oxbridge Re from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Finally, Maxim Group cut their target price on Oxbridge Re from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $3.00.

Institutional Investors Weigh In On Oxbridge Re

An institutional investor recently bought a new stake in Oxbridge Re stock. Citadel Advisors LLC bought a new position in shares of Oxbridge Re Holdings Limited (NASDAQ:OXBR) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 65,855 shares of the insurance provider’s stock, valued at approximately $68,000. Citadel Advisors LLC owned 0.81% of Oxbridge Re as of its most recent SEC filing. 5.64% of the stock is currently owned by hedge funds and other institutional investors.

Oxbridge Re Stock Down 4.2%

OXBR traded down $0.06 during trading on Tuesday, reaching $1.40. The stock had a trading volume of 141 shares, compared to its average volume of 254,229. The stock has a 50 day moving average of $1.40 and a two-hundred day moving average of $1.14. The firm has a market capitalization of $11.42 million, a price-to-earnings ratio of 70.99 and a beta of 1.97. Oxbridge Re has a 1-year low of $0.66 and a 1-year high of $2.13.

Oxbridge Re (NASDAQ:OXBR) last announced its quarterly earnings data on Thursday, August 13th. The insurance provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). Oxbridge Re had a net margin of 4.71% and a return on equity of 2.14%. The firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $1.10 million. On average, research analysts forecast that Oxbridge Re will post -0.08 EPS for the current fiscal year.

Oxbridge Re Company Profile

Oxbridge Re Holdings Limited (NASDAQ: OXBR) is a Bermuda-based specialty reinsurance holding company. Through its subsidiaries, the company provides collateralized reinsurance and other insurance-linked solutions designed to cover property catastrophe risks.

Oxbridge Re’s reinsurance activities have historically focused primarily on catastrophe-exposed property in the United States, including coastal areas of the Gulf Coast. Its business model uses collateral and capital-market structures to support coverage for events such as hurricanes and other major natural catastrophes.

The company has also pursued insurance-linked securities and technology initiatives, including efforts to use blockchain-based structures to broaden access to reinsurance-related investments.