Chardan Capital Reiterates a Buy Rating on Foresight Autonomous Holdings Ltd (FRSX)

By Austin Angelo

Chardan Capital analyst James McIlree reiterated a Buy rating on Foresight Autonomous Holdings Ltd (FRSXResearch Report) today and set a price target of $7.25. The company’s shares closed yesterday at $1.98.

McIlree noted:

“We believe the company needs upwards of $2 million to complete development of the system and will evaluate outside funding if possible.”

McIlree has an average return of 32.7% when recommending Foresight Autonomous Holdings Ltd.

According to TipRanks.com, McIlree is ranked #4463 out of 5238 analysts.

Currently, the analyst consensus on Foresight Autonomous Holdings Ltd is a Moderate Buy with an average price target of $7.25.

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Based on Foresight Autonomous Holdings Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.33 million. In comparison, last year the company had a GAAP net loss of $4.05 million.

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FORESIGHT AUTONOMOUS HOLDINGS LTD. is an investment company, which engages in the design, development and commercialization of transportation and safety applications. It develops 3D multi-camera-based advanced driver assistance systems for accident prevention and vehicle safety in the automotive industry.