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Research Frontiers (REFR)

Research Frontiers on one page: short interest, daily short volume, fails to deliver, large holders, 13F holders and insider trades. Listed on Nasdaq, classified by the SEC as patent owners & lessors.

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591K

Short interest

settlement 2026-10-15

3.9

Days to cover

+2.9 days vs prior

13.5%

Short share of volume

2026-11-02

9,419

Fails to deliver

settlement 2026-10-14

$0

Insider flow, 90 days

0 buys, 0 sells

As of 2026-11-02.

Short interest

FINRA, twice a month. The newest 48 settlements in the table, 48 in the chart. JSON

As of 15 October 2026, short interest in REFR is 591,379 shares, up 201,596 shares over the last month. Over the last 48 readings it ranged from 254,775 shares (30 January 2026) to 1,022,632 shares (30 September 2026). At the reported average volume of 152K shares a day that is 3.9 days to cover.

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SettlementShares shortChangeAvg daily volumeDays to cover
2026-10-15591,379-42.2%152,4853.88
2026-09-301,022,632+162.4%9,103,8901.00
2026-09-15389,783-9.8%136,9822.85
2026-08-31431,999+19.6%157,2182.75
2026-08-14361,283+30.2%97,3803.71
2026-07-31277,427-19.7%62,6804.43
2026-07-15345,343+7.4%52,5546.57
2026-06-30321,566-9.9%75,7554.24
2026-06-15356,780+4.3%29,31312.17
2026-05-29342,110-0.6%22,50715.20
2026-05-15344,271+5.2%52,7456.53
2026-04-30327,132-4.0%20,90415.65
2026-04-15340,893-0.9%26,33112.95
2026-03-31343,981+15.8%38,1909.01
2026-03-13296,924+7.5%28,89010.28
2026-02-27276,316+3.2%32,7098.45
2026-02-13267,757+5.1%45,2035.92
2026-01-30254,775-2.0%57,9604.40
2026-01-15259,934+0.3%35,0107.42
2025-12-31259,168-3.7%74,6683.47
2025-12-15269,095-5.6%43,9936.12
2025-11-28284,994+1.6%56,4635.05
2025-11-14280,464-1.8%64,2334.37
2025-10-31285,677+2.0%172,2541.66
2025-10-15280,047-1.8%70,0044.00
2025-09-30285,206+2.2%49,7785.73
2025-09-15278,988+0.5%24,00811.62
2025-08-29277,484-3.0%29,6879.35
2025-08-15286,137-7.6%29,9809.54
2025-07-31309,627+5.1%42,7347.25
2025-07-15294,630-2.1%27,09010.88
2025-06-30300,889-5.1%32,6819.21
2025-06-13316,929+1.4%39,3078.06
2025-05-30312,490-1.9%54,8385.70
2025-05-15318,380+12.6%46,1166.90
2025-04-30282,873-0.6%18,61615.20
2025-04-15284,690-2.3%42,4826.70
2025-03-31291,379-0.8%31,1489.35
2025-03-14293,663-4.2%29,32810.01
2025-02-28306,475+1.3%18,72216.37
2025-02-14302,547-1.0%44,6426.78
2025-01-31305,550-3.5%39,2617.78
2025-01-15316,783+1.4%22,14714.30
2024-12-31312,327-2.4%31,6769.86
2024-12-13320,004-4.6%20,89215.32
2024-11-29335,304-6.7%27,69112.11
2024-11-15359,257-0.5%28,43812.63
2024-10-31361,016+1.4%25,19914.33

Daily short volume

FINRA Reg SHO, the last 30 sessions. JSON

As of 2 November 2026, the short share of REFR volume is 13.5%, down 29.5 points over the last five sessions. Over the last 30 readings it ranged from 0.4% (28 October 2026) to 88.9% (27 October 2026). The latest reading is 17.2 points below the 30-session average of 30.7%, on 77K shares reported.

DateShort volumeTotal volumeShort shareExempt
2026-11-0210K77K13.5%2,312
2026-10-3039K152K25.3%11,204
2026-10-2911K71K16.1%7,098
2026-10-2818845K0.4%0
2026-10-276K6K88.9%0
2026-10-262K4K43.0%0
2026-10-2318K29K62.5%0
2026-10-224K17K21.9%0
2026-10-215K12K38.0%0
2026-10-209K33K26.1%6,289
2026-10-1946K94K48.7%32,693
2026-10-1619K57K32.5%1,498
2026-10-1516K41K38.6%0
2026-10-1412K34K34.0%0
2026-10-136K45K13.8%0
2026-10-125K37K13.9%530
2026-10-091K17K7.0%584
2026-10-0824K53K45.2%954
2026-10-0769920K3.5%0
2026-10-0617K260K6.4%0
2026-10-0519K85K23.0%0
2026-10-0220K44K45.8%0
2026-10-0111K47K24.3%0
2026-09-3011K51K21.1%1,000
2026-09-2916K114K14.2%2,383
2026-09-2843K69K62.7%0
2026-09-25110K204K54.1%0
2026-09-24204K388K52.6%17,194
2026-09-2318K84K21.0%195
2026-09-2297K399K24.3%1,501

Fails to deliver

SEC, the last 30 settlement dates with a fail. JSON

As of 14 October 2026, the fails-to-deliver balance in REFR is 9,419 shares, up 9,270 shares over the last settlement date. Over the last 30 readings it ranged from 27 shares (17 June 2026) to 528,256 shares (21 September 2026). The latest reading sits at the bottom of that range.

SettlementShares failedPriceValue
2026-10-149,419$0.59$6K
2026-10-13149$0.57$85
2026-10-053,600$0.73$3K
2026-09-295,635$0.77$4K
2026-09-281,250$0.79$988
2026-09-2526,473$0.74$20K
2026-09-2279,662$0.76$61K
2026-09-21528,256$0.65$343K
2026-09-167,992$0.36$3K
2026-09-154,846$0.38$2K
2026-08-311,324$0.46$609
2026-08-21540$0.45$243
2026-08-184,851$0.43$2K
2026-08-1741$0.44$18
2026-08-045,001$0.45$2K
2026-07-16928$0.55$510
2026-07-154,412$0.55$2K
2026-07-143,787$0.54$2K
2026-07-133,722$0.55$2K
2026-07-061,936$0.55$1K
2026-06-30920$0.55$506
2026-06-2615,641$0.62$10K
2026-06-252,112$0.62$1K
2026-06-243,348$0.61$2K
2026-06-232,371$0.61$1K
2026-06-221,571$0.60$943
2026-06-1727$0.67$18
2026-06-1548$0.71$34
2026-06-12304$0.74$225
2026-06-09200$0.73$146

Insider trades

SEC Form 4, newest first. JSON

No open-market insider trades were reported for REFR in the last 90 days. The most recent filings are listed below. Latest filing: Kaganowicz Alexander (Director) on 2024-06-14.

DateInsiderTitleTypeSharesPriceValueOwned after
2024-06-14Kaganowicz AlexanderDirectorBuy2K$1.94$4K165K
2024-06-07Daigle DarrylDirector,TenPercentOwnerBuy4K$1.74$7K34K
2024-02-07Daigle DarrylDirectorBuy1K$1.00$1K4K
2023-12-11Daigle DarrylDirectorBuy8K$0.97$8K217K
2023-10-02Daigle DarrylDirectorBuy500$1.05$5253K
2023-09-13Daigle DarrylDirectorBuy5K$1.40$7K75K
2023-09-13Daigle DarrylDirectorBuy2K$1.35$2K209K
2023-06-16Daigle DarrylDirectorBuy5K$1.49$7K208K
2023-06-15Daigle DarrylDirectorBuy4K$1.59$7K129K
2023-02-09Daigle DarrylDirectorBuy4K$2.00$7K203K
2023-01-25Daigle DarrylDirectorBuy4K$2.00$7K25K
2020-08-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell95K$2.16$205K1.4M
2020-08-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell57K$2.16$123K856K
2020-08-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell38K$2.16$82K571K
2020-08-07DOUGLAS KEVINTenPercentOwnerOtherSell50K$3.56$178K1.5M
2020-08-07DOUGLAS KEVINTenPercentOwnerOtherSell20K$3.56$71K609K
2020-08-07DOUGLAS KEVINTenPercentOwnerOtherSell30K$3.56$107K913K
2020-07-28JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell50K$3.20$160K1.6M
2020-07-28JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell20K$3.20$64K629K
2020-07-28JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell30K$3.20$96K943K
2020-07-20DOUGLAS KEVINTenPercentOwnerOtherSell31K$3.28$102K973K
2020-07-20DOUGLAS KEVINTenPercentOwnerOtherSell52K$3.28$171K1.6M
2020-07-20DOUGLAS KEVINTenPercentOwnerOtherSell21K$3.28$68K649K
2020-07-17DOUGLAS KEVINTenPercentOwnerOtherSell14K$3.29$46K1.7M
2020-07-17DOUGLAS KEVINTenPercentOwnerOtherSell8K$3.29$28K1.0M
2020-07-17DOUGLAS KEVINTenPercentOwnerOtherSell6K$3.29$18K669K
2020-07-16DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell3K$3.31$11K1.0M
2020-07-16DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell6K$3.31$19K1.7M
2020-07-16DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell2K$3.31$8K675K
2020-07-15DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell8K$3.45$28K1.0M
2020-07-15DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell13K$3.45$46K1.7M
2020-07-15DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell5K$3.45$18K677K
2020-07-14JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell5K$3.36$18K1.0M
2020-07-14JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell9K$3.36$30K1.7M
2020-07-14JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell4K$3.36$12K683K
2020-07-13JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell5K$3.45$16K1.0M
2020-07-13JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell8K$3.45$27K1.7M
2020-07-13JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell3K$3.45$11K686K
2020-07-01JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell900$3.85$3K1.7M
2020-07-01JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell360$3.85$1K689K
2020-07-01JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell540$3.85$2K1.0M
2020-06-30JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell16K$3.91$64K1.7M
2020-06-30JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell10K$3.91$38K1.0M
2020-06-30JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUSTTenPercentOwnerOtherSell6K$3.91$25K690K
2020-06-29DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell34K$3.97$135K1.7M
2020-06-29DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell20K$3.97$81K1.0M
2020-06-29DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell14K$3.97$54K696K
2020-06-26DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell52K$4.53$236K1.8M
2020-06-26DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell31K$4.53$141K1.1M
2020-06-26DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell21K$4.53$94K710K
2020-06-25LAPOINTE MICHAEL RVP-MarketingTax withholding3K$1.06$3K39K
2020-06-25LAPOINTE MICHAEL RVP-MarketingTax withholding2K$2.89$7K43K
2020-06-25LAPOINTE MICHAEL RVP-MarketingTax withholding2K$1.83$4K41K
2020-06-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell8K$5.04$39K731K
2020-06-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell20K$5.04$99K1.8M
2020-06-25DOUGLAS FAMILY TRUSTTenPercentOwnerOtherSell12K$5.04$59K1.1M
2020-05-29HARARY JOSEPH MPresident and CEOTax withholding22K$2.89$64K479K
2020-05-29HARARY JOSEPH MPresident and CEOTax withholding20K$3.11$61K499K
2020-02-21VAN VOORHEES SETHCFO & VP-Business DevelopmentTax withholding45K$1.00$45K220K
2020-02-21VAN VOORHEES SETHCFO & VP-Business DevelopmentTax withholding22K$1.06$23K175K
2020-02-21VAN VOORHEES SETHCFO & VP-Business DevelopmentTax withholding6K$2.89$17K226K
2020-02-21VAN VOORHEES SETHCFO & VP-Business DevelopmentTax withholding14K$1.83$25K153K
2020-02-21VAN VOORHEES SETHCFO & VP-Business DevelopmentTax withholding5K$3.11$14K230K
2020-02-21HARARY JOSEPH MPresident and CEOTax withholding37K$1.06$39K457K

Form 4 filings are due within two business days of the trade. Insiders sell for many reasons that say nothing about the company; open-market buys are rarer.

Large holders (13D and 13G)

One row per reporting person with its latest filing, newest first. JSON

1 holder reports 5% or more of REFR in its latest filing, on Schedule 13G (passive). The holder is Morgan Stephen L. at 6.9% of the class (2,328,690 shares), filed 2025-10-17 for an event on 2025-09-30.

FiledFormHolderSharesOf classEvent
2025-10-1713GMorgan Stephen L.individual2.3M6.9%2025-09-30

13F holders

Tracked managers holding REFR at their latest 13F. JSON

1 of the 30 tracked managers held REFR at their latest 13F, $21K in total at quarter-end prices. Renaissance Technologies is the largest at $21K (0.0% of its portfolio) as of 2026-06-30. Over the prior quarter 0 added shares and 1 cut.

FundQuarterSharesValueOf portfolioChange in shares
Renaissance Technologies2026-06-3041K$21K0.00%-28K

Only the 30 tracked managers on the funds hub; a 13F reports long positions in US listed stock at quarter end, 45 days late, and says nothing about shorts or positions sold since.

What this page is

Research Frontiers in the regulatory record

Regulators publish company data in separate files that never sit next to each other: FINRA's twice-monthly short interest, its daily short sale volume, the SEC's fails-to-deliver counts, and each insider's Form 4. A company page puts those series for one ticker on one URL, with planned sales, large holders, 13F holders and financials beside them, so the short position, the daily flow, the settlement fails and what insiders are doing can be read together.

Each section has its own history table, a one-line summary of the latest figures and its own JSON and CSV links, and says when its source last updated.

This page follows Research Frontiers (REFR), SEC CIK 793524, listed on Nasdaq, classified by the SEC as patent owners & lessors. The cross-market tables live on the short interest and insider transactions hubs.

Source and updates

Short interest
FINRA consolidated short interestSource: FINRA.Twice a month, about eight business days after settlement. Latest 2026-10-15.JSON and CSV
Daily short volume
FINRA Reg SHO daily filesSource: FINRA.Every trading day, the morning after FINRA posts it. Latest 2026-11-02.JSON and CSV
Fails to deliver
SEC fails-to-deliver dataSource: SEC.Twice a month, a few weeks after the half month ends. Latest 2026-10-14.JSON and CSV
Large holders
SEC EDGAR Schedule 13D and 13GSource: SEC.New filings appear shortly after the SEC posts them. A 13D is due within five business days of crossing 5%; a 13G follows the passive schedule. Latest 2025-10-17.JSON and CSV
13F holders
SEC EDGAR Form 13F-HRSource: SEC.Quarterly, filed within 45 days of quarter end; 30 tracked managers. Latest 2026-06-30.JSON and CSV
Insider trades
SEC EDGAR Form 4Source: SEC.New filings appear shortly after the SEC posts them; they're due two business days after the trade. Latest 2024-06-14.JSON and CSV
Company record
EDGAR filing index for CIK 793524Ticker, name and exchange from the SEC's company list, refreshed weekly.
Rate limits
10 requests a minute without a key, 30 with a free key from a free account.

How to read it

  • Read the position against the flow: rising short interest with a high daily short share is new shorting; rising short interest with a normal short share is old shorts holding on.
  • Insider buys next to a large short position are rare and stand out; insider sells next to one are common and mean little.
  • Fails to deliver matter relative to the float, not in absolute shares; a million failed shares in a mega cap is noise.

Analysis of what the data shows, not advice. XOOMAR does not recommend buying, selling or holding anything.

Other companies the SEC classifies as patent owners & lessors

Other company pages

Datasets

Frequently Asked Questions

How much of REFR is sold short?
591,379 shares were held short at the 2026-10-15 settlement, 3.9 days of average volume. FINRA publishes the next count about eight business days after the 15th and the last business day of the month.
What is REFR's daily short volume?
On 2026-11-02, 10,450 of the 77,210 REFR shares reported to FINRA were sold short, 13.5% of the day's reported volume. Short volume is a flow for one day, not a position.
Does REFR have fails to deliver?
The SEC's latest file shows 9,419 REFR shares failed to deliver at settlement 2026-10-14. Fails are reported per settlement date and published twice a month with a lag.
Are REFR insiders buying or selling?
No open-market insider trades were reported for REFR in the last 90 days. The most recent filings are listed below. Latest filing: Kaganowicz Alexander (Director) on 2024-06-14.
Who owns 5% or more of REFR?
1 holder reports 5% or more of REFR in its latest filing, on Schedule 13G (passive). The holder is Morgan Stephen L. at 6.9% of the class (2,328,690 shares), filed 2025-10-17 for an event on 2025-09-30.
Which tracked 13F managers own REFR?
1 of the 30 tracked 13F managers held REFR shares at their latest filing, $21K in all. The largest: Renaissance Technologies (41K shares, $21K).

Data on this page is provided for informational purposes only and is not financial advice. See our editorial policy.