Oxbridge Re Holdings Limited (NASDAQ:OXBR) Stock Gains Momentum: How Far Can it Go?
Oxbridge Re Holdings Limited (NASDAQ:OXBR) jumped 20% last week following the announcement that Custodian Ventures had acquired 9.9% of Oxbridge Re Holdings’ outstanding common shares. Custodian ventures CEO said they had made a considerable investment in Oxbridge Re since the company presents an exciting opportunity for significant value creation.
In addition, he said that they plan to constructively engage the Board of Directors and management to explore various strategic options for maximum value creation for Oxbridge Re stockholders.
Recently, Oxbridge Re reported its Q4 2020 results for the period ended December 31, 2020. The company posted exceptional results because of high net realized gains and net premium earned on investments. Despite the pandemic, it’s fiscal 2020 was good, with its business remaining resilient and unaffected to a large extent. In the long-term, the company is optimistic about the prospects of its Core reinsurance operations and robust projected ROI or around 24% on the PSV/sidecar investors. So in the coming months, OXBR is a stock to watch.
Market Reaction:
On Friday, OXBR stock gained 8.50% at $3.7 with more than 1.55 million shares, compared to its average volume of 2.08 million shares. The stock has moved within a range of $3.0400 – 3.6300 after opening the trade at $3.21. Over the past 52-week, the stock has been trading within a range of $0.9500 – 9.6200.
