Forrester Research, Inc. (NASDAQ:FORR) Sees Significant Increase in Short Interest

Forrester Research, Inc. (NASDAQ:FORR) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 561,800 shares, a growth of 103.3% from the June 30th total of 276,300 shares. Currently, 4.9% of the company’s shares are sold short. Based on an average daily volume of 123,700 shares, the short-interest ratio is currently 4.5 days.

Institutional Trading of Forrester Research

Institutional investors and hedge funds have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. raised its holdings in shares of 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 valued at $450,000 after purchasing an additional 9,674 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Forrester Research in the fourth quarter valued at about $2,327,000. Vanguard Group Inc. raised its holdings in shares of Forrester Research by 0.5% in the third 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. Wedge Capital Management L L P NC raised its holdings in shares of Forrester Research by 2.4% in 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 purchasing an additional 593 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Forrester Research in the first quarter valued at about $812,000. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Forrester Research Stock Up 0.6 %

NASDAQ FORR traded up $0.11 on Friday, hitting $19.25. 53,968 shares of the company were exchanged, compared to its average volume of 116,648. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $17.56 and a 200-day moving average of $19.91. Forrester Research has a 12 month low of $16.14 and a 12 month high of $32.78. The company has a market cap of $367.87 million, a PE ratio of 641.67, a PEG ratio of 1.37 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th.

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.