Chardan Capital Thinks Foresight Autonomous Holdings Ltd’s Stock is Going to Recover

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 $1.02, close to its 52-week low of $0.84.

According to TipRanks.com, McIlree is a 1-star analyst with an average return of -3.8% and a 42.9% success rate. McIlree covers the Consumer Goods sector, focusing on stocks such as Vuzix Corporation, KEYW Holding, and Arcimoto Inc.

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 December 31, the company reported a quarterly GAAP net loss of $9.35 million. In comparison, last year the company had a net profit of $2.6 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.