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

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

Forrester Research Stock Up 1.6 %

NASDAQ:FORR traded up $0.26 during mid-day trading on Thursday, hitting $16.52. 83,911 shares of the company’s 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 has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The business has a fifty day moving average price of $17.81 and a 200 day moving average price of $18.11. The company has a market cap of $315.65 million, a PE ratio of 553.33, 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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $121.21 million. Equities analysts predict that Forrester Research will post 0.95 EPS for the current year.

Insider Activity

In other news, insider Ryan Darrah sold 3,895 shares of Forrester Research stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $18.26, for a total transaction of $71,122.70. Following the sale, the insider now owns 19,640 shares of the company’s stock, valued at approximately $358,626.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Forrester Research

Several hedge funds have recently bought and sold shares of FORR. Kent Lake Capital LLC bought a new stake in Forrester Research during the first quarter worth about $11,473,000. Ballentine Partners LLC purchased a new position in Forrester Research in the second quarter worth about $4,271,000. Acadian Asset Management LLC raised its holdings in Forrester Research by 511.8% in the second quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock worth $3,940,000 after buying an additional 193,116 shares during the last quarter. Millennium Management LLC raised its holdings in Forrester Research by 134.7% in the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after buying an additional 157,510 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Forrester Research in the fourth quarter worth about $2,327,000. Institutional investors own 55.20% of the company’s stock.

Analysts Set New Price Targets

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

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.