Research Frontiers Incorporated (NASDAQ:REFR) Sees Large Increase in Short Interest
Research Frontiers Incorporated (NASDAQ:REFR) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,350,000 shares, a growth of 24.3% from the March 31st total of 1,890,000 shares. Approximately 9.1% of the shares of the company are sold short. Based on an average trading volume of 242,900 shares, the days-to-cover ratio is presently 9.7 days.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new stake in shares of Research Frontiers during the fourth quarter worth $39,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Research Frontiers by 46.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,402 shares of the technology company’s stock valued at $43,000 after acquiring an additional 4,902 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Research Frontiers in the third quarter valued at $42,000. NorthRock Partners LLC purchased a new position in shares of Research Frontiers in the fourth quarter valued at $84,000. Finally, Virtu Financial LLC purchased a new position in shares of Research Frontiers in the fourth quarter valued at $94,000. 16.94% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ REFR traded up $0.03 during mid-day trading on Tuesday, hitting $2.61. 150,222 shares of the company were exchanged, compared to its average volume of 273,399. The stock has a 50 day simple moving average of $2.87 and a 200-day simple moving average of $3.28. Research Frontiers has a 1-year low of $2.01 and a 1-year high of $5.70. The firm has a market cap of $82.61 million, a price-to-earnings ratio of -32.25 and a beta of 1.17.
Research Frontiers Incorporated develops and markets technology and devices to control the flow of light worldwide. The company develops and licenses suspended particle device (SPD-Smart) light-control technology to companies that manufacture and market the SPD-Smart chemical emulsion, light-control film made from the chemical emulsion, the light-control panels made by laminating the film, and electronics to power end-products incorporating the film, as well as lamination services for and the end-products, such as windows, skylights, and sunroofs.
See Also: Initial Public Offering (IPO)
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