Oxbridge Re Holdings Limited (OXBR) shares soared 12.24% in after-hours on Monday, August 16, 2021, and closed the weekly trading at $3.85. However, in the regular trading session of Monday, OXBR’s stock lost 14.04%. OXBR shares have risen117.09% over the last 12 months, and they have moved down 10.91% in the past week. Over the past three months, the stock has gained 64.90%, while over the past six months, it has declined 10.44%.
Let’s have a look at its recent news and developments
OXBR recent financial results announcement
On August 16, 2021, Oxbridge Re Holdings Limited (OXBR) reported improved results for the three and six months ended June 30, 2021.
Q2 2021 financial highlights
- OXBR generated a net income of $448,000 or $0.08 per basic and diluted common share in Q2 2021 compared with $165,000 or $0.03 per basic and diluted common share in the second quarter of 2020.
- Total expenses were $334,000 in the second quarter of 2021 compared to $297,000 in the second quarter of 2020.
- It suffered a net loss of $ 448,000 in Q2 2021 compared to $165,000 in Q2 2020.
- The company had cash and cash equivalents, and restricted cash and cash equivalents, totalled $8.0 million on June 30, 2021, compared with $7.5 million on December 31, 2020.
OXBR announced Pricing of Initial Public Offering
On August 11, 2021, Oxbridge Acquisition Corp announced the pricing of its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share of the Company and one redeemable warrant. Each warrant will entitle the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units are expected to be listed on the Nasdaq Capital Market and trade under the ticker symbol “OXACU” beginning August 12, 2021. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on the Nasdaq under the symbols “OXAC” and “OXACW,” respectively.
Custodian Ventures Acquired OXBR
On July 13, 2021, Custodian Ventures LLC filed a Schedule 13D announcing its acquisition of approximately 9.9% of the ordinary shares outstanding of Oxbridge Re Holdings Limited (OXBR).
OXBR Q1 2021 results announcement
On May 14, 2021, Oxbridge Re Holdings Limited announced improved financial results for the three months ended March 31, 2021.
Q1 2021 financial highlights
- The Company generated a net income of $28,000 or $0.00 per basic and diluted common share in the first quarter of 2021 compared to a net loss of $364,000 or a loss of $0.06 per basic and diluted common share in the first quarter of 2020.
- Net premiums were $181,000 in Q1 2021 compared to $264,000 in Q1 2020.
- For Q1 2021, total expenses were $272,000 compared to $275,000 in the first quarter of 2020.
- The company had cash and cash equivalents, and restricted cash and cash equivalents, totalled $6.8 million on March 31, 2021, compared to $7.5 million on December 31, 2020.
Conclusion
OXBR stock went up in the after-hours after the announcement of improved Q2 financial results and it can continue its surge in the coming days.
