Short Interest in Forrester Research, Inc. (NASDAQ:FORR) Increases By 6.3%

Forrester Research, Inc. (NASDAQ:FORR) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 256,200 shares, an increase of 6.3% from the September 15th total of 241,100 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 81,200 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Forrester Research from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st.

Forrester Research Stock Performance

Shares of NASDAQ FORR traded up $0.26 during trading hours on Thursday, hitting $16.52. 83,911 shares of the stock were exchanged, compared to its average volume of 120,804. Forrester Research has a one year low of $15.79 and a one year high of $29.00. The company’s 50 day moving average is $17.81 and its 200 day moving average is $18.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $315.65 million, a P/E ratio of 550.67, a P/E/G ratio of 1.27 and a beta of 0.87.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.09). Forrester Research had a return on equity of 6.52% and a net margin of 0.32%. The business had revenue of $121.83 million during the quarter, compared to the consensus estimate of $121.21 million. On average, research analysts expect that Forrester Research will post 0.95 EPS for the current year.

Insider Activity at Forrester Research

In related news, insider Ryan Darrah sold 3,895 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $18.26, for a total transaction of $71,122.70. Following the transaction, the insider now owns 19,640 shares of the company’s stock, valued at approximately $358,626.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 39.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Forrester Research

Several hedge funds and other institutional investors have recently modified their holdings of FORR. PNC Financial Services Group Inc. raised its stake in Forrester Research by 52.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after purchasing an additional 533 shares during the last quarter. Point72 DIFC Ltd raised its position in shares of Forrester Research by 62.4% during the second quarter. Point72 DIFC Ltd now owns 1,713 shares of the technology company’s stock valued at $29,000 after buying an additional 658 shares during the last quarter. Rhumbline Advisers raised its position in shares of Forrester Research by 17.4% during the second quarter. Rhumbline Advisers now owns 17,951 shares of the technology company’s stock valued at $307,000 after buying an additional 2,661 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Forrester Research by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 59,248 shares of the technology company’s stock valued at $1,012,000 after buying an additional 3,306 shares during the period. Finally, Marshall Wace LLP grew its position in Forrester Research by 17.9% during the second quarter. Marshall Wace LLP now owns 23,445 shares of the technology company’s stock worth $400,000 after buying an additional 3,552 shares in the last quarter. Institutional investors and hedge funds own 55.20% of the company’s stock.

Forrester Research Company Profile

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.