Short Interest in Forrester Research, Inc. (NASDAQ:FORR) Drops By 36.9%

Forrester Research, Inc. (NASDAQ:FORR) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 276,300 shares, a drop of 36.9% from the June 15th total of 437,700 shares. Based on an average daily trading volume, of 128,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.4% of the company’s stock are sold short.

Forrester Research Stock Performance

FORR traded down $0.05 during trading hours on Friday, hitting $17.41. 90,028 shares of the stock were exchanged, compared to its average volume of 142,517. The stock has a market cap of $332.71 million, a price-to-earnings ratio of 582.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.91. The stock has a 50-day simple moving average of $17.67 and a 200-day simple moving average of $20.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. Forrester Research has a 12 month low of $16.14 and a 12 month high of $32.79.

Forrester Research (NASDAQ:FORR) last posted its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.12). The business had revenue of $100.08 million during the quarter, compared to analyst estimates of $104.21 million. Forrester Research had a net margin of 0.10% and a return on equity of 9.30%. Analysts anticipate that Forrester Research will post 1.04 earnings per share for the current year.

Institutional Trading of Forrester Research

Several hedge funds have recently made changes to their positions in the stock. Total Clarity Wealth Management Inc. increased its position in Forrester Research by 135.9% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 16,795 shares of the technology company’s stock worth $450,000 after buying an additional 9,674 shares during the period. Vanguard Group Inc. lifted its position in Forrester Research by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,389,683 shares of the technology company’s stock valued at $40,162,000 after purchasing an additional 7,316 shares during the last quarter. Wellington Management Group LLP acquired a new position in Forrester Research during the 4th quarter valued at about $2,327,000. Wedge Capital Management L L P NC raised its holdings in shares of Forrester Research by 2.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 25,456 shares of the technology company’s stock valued at $682,000 after buying an additional 593 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Forrester Research by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock valued at $117,000 after buying an additional 753 shares during the last quarter. Institutional investors own 55.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Forrester Research from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th.

About Forrester Research

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.