Oxbridge Re (NASDAQ:OXBR) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Oxbridge Re Holdings Limited (NASDAQ:OXBR)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $1.41 and traded as high as $1.52. Oxbridge Re shares last traded at $1.42, with a volume of 4,344 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of Oxbridge Re from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. 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. Finally, Maxim Group dropped their price objective on shares of Oxbridge Re from $5.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $3.00.

Oxbridge Re Stock Performance

The business’s fifty day moving average price is $1.40 and its two-hundred day moving average price is $1.13. The stock has a market capitalization of $12.21 million, a P/E ratio of 75.04 and a beta of 1.97.

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

Hedge Funds Weigh In On Oxbridge Re

A hedge fund recently bought a new position in Oxbridge Re stock. Citadel Advisors LLC bought a new stake in shares of Oxbridge Re Holdings Limited (NASDAQ:OXBR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 65,855 shares of the insurance provider’s stock, valued at approximately $68,000. Citadel Advisors LLC owned about 0.81% of Oxbridge Re as of its most recent filing with the Securities and Exchange Commission. 5.64% of the stock is currently owned by institutional investors and hedge funds.

About Oxbridge Re

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.