Research Frontiers Incorporated (REFR) shares soared 12.24% in after-hours on Friday, August 13, 2021, and closed the weekly trading at $2.20 per share. However, in the normal trading session of Friday, REFR’s stock lost 15.15%. REFR shares have fallen 35.10% over the last 12 months, and they have moved down 19.67% in the past week. Over the past three months, the stock has lost 19.34%, while over the past six months, it has declined 58.82%. The company has a current market of $73.11 million and its outstanding shares stood at 31.65 million.
Let’s see is there any reason behind its turnaround on Friday?
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REFR Recent financial results announcement
On August 05, 2021, Research Frontiers Inc (REFR) announced its financial results for its second quarter of 2021.
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Q2 2021 financial highlights
- Fee income from licensing activities was $ 113,937 for Q2 2021 compared to $ 176,113 for Q2 2020.
- Total operating expenses were $ 642,888 in Q2 2021 compared to $778,694 in Q2 2020.
- It suffered a net loss of $ 527,935 in Q2 2021 compared to $ 398,981 in Q2 2020.
- The Company had cash and cash equivalents of approximately $3.5 million and working capital of approximately $4.2 million on June 30, 2021.
REFR Q1 2021 financial results
- REFR earned a fee income of $ 213,123 in Q1 2021 compared to $ 356,173 in Q1 2020.
- Total operating expenses were $ 770,774 in Q1 2021 compared to $ 1,003,759 in Q1 2020.
- It suffered a net loss of $ 557,307 in Q1 2021 compared to $ 624,594 in Q2 2020.
- The Company had cash and cash equivalents of over $4.2 million and working capital of approximately $4.7 million, on March 31, 2021.
Cadillac using REFT SPD smart glass technology
On Jan. 13, 2021, Cadillac announced the debut of its future flagship ultra-luxury fully electric CELESTIQ sedan. Automotive News noted that the CELESTIQ is expected to go on sale in 2023.
CELESTIQ’s full-glass roof is expected to be one of the first to feature a four-quadrant, suspended-particle-device (SPD) smart glass. With this smart glass, each occupant of the vehicle can set their level of roof transparency.
About REFR Stock
Research Frontiers is the developer of patented SPD-Smart light-control film technology which allows users to instantly, precisely, and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has invested over $100 million to develop and license out this technology to over 45 companies around the world to serve the global market.
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Conclusion
At the moment, we had no recent news to justify its stock surging on Friday evening. We are not sure not it will commence the new trading week.