Foresight Autonomous Holdings Ltd. has regained compliance with Nasdaq's minimum bid price requirement, closing the previous non-compliance issue.
Quiver AI Summary
Foresight Autonomous Holdings Ltd. announced that it has regained compliance with Nasdaq's minimum bid price requirement, as confirmed in a recent letter from The Nasdaq Stock Market. The company had previously been notified of non-compliance in September 2024 when its American Depositary Shares fell below the $1.00 threshold for 30 consecutive business days. To rectify this, Foresight needed to maintain a closing bid price of at least $1.00 for 10 consecutive trading days, which it achieved from December 20, 2024, to January 6, 2025. Foresight is a technology company focused on developing advanced 3D perception systems for various markets, including automotive and defense, through its subsidiaries.
Potential Positives
- Foresight Autonomous Holdings Ltd. has regained compliance with Nasdaq's minimum bid price requirement, ensuring its continued listing on The Nasdaq Capital Market.
- The company's ADSs met the required closing bid price of $1.00 or more for over 10 consecutive trading days, demonstrating a recovery in its stock price.
- The resolution of the compliance issue positively impacts investor confidence and market perception of the company's stability and performance.
Potential Negatives
- The company had previously failed to meet Nasdaq's minimum bid price requirement, indicating past financial instability or underperformance in the market.
- The compliance issue was only resolved after directly meeting the bid price for a short period, which suggests potential vulnerability to future compliance problems if the price fluctuates again.
- The press release highlights the company's struggle by mentioning the specific date of initial non-compliance, which could raise concerns among investors regarding the company's market position and stability.
FAQ
What recent compliance milestone did Foresight Autonomous achieve?
Foresight Autonomous has regained compliance with Nasdaq's minimum bid price requirement as of January 6, 2025.
How did Foresight regain Nasdaq compliance?
The company maintained a closing bid price of $1.00 or more for at least 10 consecutive trading days.
What prompted Foresight's compliance notification from Nasdaq?
Foresight was previously notified of non-compliance on September 3, 2024, due to its ADSs falling below the required bid price.
What does Foresight Autonomous Holdings develop?
Foresight develops smart multi-spectral vision software solutions and cellular-based applications for automotive and safety systems.
Where can I find more information about Foresight?
More information can be found on their website at www.foresightauto.com or by following them on social media.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FRSX Hedge Fund Activity
We have seen 4 institutional investors add shares of $FRSX stock to their portfolio, and 10 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALTSHULER SHAHAM LTD removed 2,948,176 shares (-100.0%) from their portfolio in Q3 2024
- AMH EQUITY LTD removed 342,470 shares (-47.2%) from their portfolio in Q3 2024
- CAPTRUST FINANCIAL ADVISORS added 12,096 shares (+inf%) to their portfolio in Q3 2024
- RHUMBLINE ADVISERS added 7,960 shares (+90.0%) to their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 5,100 shares (+14.2%) to their portfolio in Q3 2024
- SIMPLEX TRADING, LLC removed 3,894 shares (-100.0%) from their portfolio in Q3 2024
- NEWEDGE ADVISORS, LLC removed 3,832 shares (-61.3%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Ness Ziona, Israel, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in 3D perception systems, today announced that it has received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) informing Foresight that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2), for continued listing on The Nasdaq Capital Market, and the matter of previous non-compliance is now closed.
Foresight was previously notified by Nasdaq on September 3, 2024, that it was not in compliance with the minimum bid price rule because its American Depositary Shares (“ADSs”) failed to meet the closing bid price of $1.00 or more for 30 consecutive business days, as required by the Nasdaq Listing Rules. To regain compliance with the bid price, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. From December 20, 2024 through January 6, 2025, the closing bid price of the Company’s ADSs has been at $1.00 per ADS or greater. Accordingly, the Company has regained compliance with Nasdaq's minimum bid price rule.
About Foresight
Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions.
Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com , follow @ForesightAuto1 on “X” (formerly Twitter), or join Foresight Automotive on LinkedIn.
Investor Relations Contact:
Miri Segal-Scharia
CEO
MS-IR LLC
[email protected]
917-607-8654
