Investors Buy Large Volume of Forum Merger III Put Options (NASDAQ:FIII)

Forum Merger III Co. (NASDAQ:FIII) saw unusually large options trading activity on Wednesday. Investors bought 1,678 put options on the stock. This is an increase of approximately 1,143% compared to the typical volume of 135 put options.

NASDAQ FIII opened at $10.06 on Friday. The company has a fifty day simple moving average of $9.95. Forum Merger III has a 12-month low of $9.67 and a 12-month high of $15.30.

Several brokerages have recently commented on FIII. Benchmark began coverage on shares of Forum Merger III in a research report on Friday, March 19th. They set a “buy” rating and a $23.00 price objective for the company. Colliers Securities began coverage on shares of Forum Merger III in a research report on Friday, March 19th. They issued a “buy” rating and a $13.00 price target for the company.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new stake in Forum Merger III in the 4th quarter valued at $73,000. Mcdonald Partners LLC bought a new position in Forum Merger III during the 1st quarter valued at $100,000. Lombard Odier Asset Management USA Corp bought a new position in Forum Merger III during the 4th quarter valued at $305,000. Magnetar Financial LLC bought a new position in Forum Merger III during the 4th quarter valued at $11,073,000. Finally, Virtu Financial LLC bought a new position in Forum Merger III during the 4th quarter valued at $167,000. 30.56% of the stock is owned by institutional investors and hedge funds.

Forum Merger III Company Profile

Forum Merger III Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in Delray Beach, Florida.

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