Latest news with #ForesightAutonomous
Business Insider
2 days ago
- Business
- Business Insider
Foresight Autonomous plans to conduct 1-for-7 reverse stock split
Foresight Autonomous (FRSX) announced that it plans to conduct a reverse share split of the company's outstanding ordinary shares, no par value per share, at a ratio of 1-for-7 which is expected to be implemented at market open on the Tel-Aviv Stock Exchange on August 24, and on the Nasdaq Capital Market on August 25. There will be no change to the existing ratio of the number of ordinary shares represented by the company's American Depositary Shares. However, as a result of the reverse share split, the ADS price is expected to increase proportionally, although the company can give no assurance that the ADS price after the reverse share split will be equal to or greater than the ADS price on a proportionate basis. The company believes that the reverse share split will help the company to maintain compliance with Nasdaq listing requirements. However, the company can give no assurance that this goal will be achieved. As of the effective date for the reverse share split, the company's ADSs will continue to be traded on the Nasdaq under the symbol 'FRSX' with a new CUSIP Number. Elevate Your Investing Strategy:
Globe and Mail
24-02-2025
- Business
- Globe and Mail
This ‘Strong Buy' Self-Driving Driving Car Stock Just Got a Major Nvidia Boost
Foresight Autonomous (FRSX) gained as much as 30% on Monday after announcing a new integration with artificial intelligence (AI) behemoth Nvidia (NVDA). The Israeli company plans on integrating Nvidia's Jetson Orin in its 3D perception systems. Jetson Orin refers to a grouping of computers produced by Nvidia that are tailored to robotics and edge computing use cases. Foresight is in the vision solution and accident prevention software business, touching self-driving cars and other unmanned vehicles like drones. Despite today's rally, Foresight Autonomous stock is currently down more than 41% in the year to date. What Nvidia Partnership Means for Foresight Stock Using Nvidia's computing platform will enable Foresight Autonomous to improve the overall performance of its unmanned aerial vehicles (UAVs) and autonomous drones. FRSX expects the NVDA partnership to help it create top-notch solutions that work well in 'challenging conditions, including low-light environments, heavy fog, and extreme weather.' The AI darling's technology will ultimately expand Foresight's footprint in 'search and rescue missions and agriculture monitoring,' according to its press release on Monday. Note that FRSX shares soared following the news on market open but have since pared back almost all of their intraday gains. Foresight's Revenue Declined Sharply in Q3 Investors should practice caution in buying Foresight Autonomous stock after the Nvidia news since this self-driving technology company is a penny stock at the time of writing. Penny stocks are known to give up gains just as quickly as they accumulate them. FRSX stock's price action this morning is coupled with a massive increase in trading volume. More than 10 million shares of Foresight Autonomous have exchanged hands at the time of writing, up sharply from their average trading volume of about 800,000. In November, the Nasdaq-listed firm said it narrowed its net loss by about 21% to $3.33 million in its fiscal third quarter. Still, FRSX's revenue tanked an alarming 63% on a year-over-year basis to $111,000. Analysts Remain Bullish on Foresight Autonomous While Foresight Autonomous remains a high-risk investment, at least one analyst is convinced it could pay off. There is only one analyst covering FRSX stock with a ' Strong Buy ' rating. Their price target of $4 indicates potential upside of some 345% from current levels.
