Foresight Autonomous shares leap on successful eye-net trial

Foresight Autonomous Holdings

01/03/2021 19:11

** U.S.-listed shares of Foresight Autonomous Holdings
 FRSX.O  jumping 17% on Mon to $7.95
    ** Israel-based tech co  FRSX.TA  engaged in the design,
development and commercialization of advanced safety driver
assistance and autonomous driving solutions for the automotive
industry
    ** Co announced Mon that its wholly owned subsidiary,
Eye-Net Mobile Ltd., successfully completed a controlled trial
of its cellular-based accident prevention solution for the
intelligent transport system division of a multi-bln-dollar
global Japanese vehicle manufacturer  urn:newsml:reuters.com:*:nBw9vTfQXa
    ** Last Thurs, FRSX released its Q4 and FY 2020 results 
 urn:newsml:reuters.com:*:nBw8hthSTa; Q4 Non-GAAP net loss was $3,712,000 compared to a
non-GAAP net loss of $4,018,000 in Q4 2019
    ** Co said they ended Q4 2020 with $43.9 mln in cash and
short-term deposits
    ** Analyst mean recommendation is "Buy," but median PT of
$3.00, is ~60% below current levels
    ** Year-to-date, FRSX up >90%. However, stock trading down
35% from its Feb 10 intraday high of $12.14  
    
    
    
    

 (Terence Gabriel is a Reuters market analyst. The views
expressed are his own)
 ((terence.gabriel.tr.com@reuters.net
terence.gabriel@tr.com))