Forrester Research, Inc. (NASDAQ:FORR) Short Interest Update

Forrester Research, Inc. (NASDAQ:FORR) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 350,600 shares, a growth of 9.1% from the October 31st total of 321,400 shares. Based on an average daily volume of 75,800 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Forrester Research from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th.

Forrester Research Stock Down 3.5 %

Shares of Forrester Research stock traded down $0.61 during trading on Tuesday, hitting $16.70. 64,170 shares of the company’s stock were exchanged, compared to its average volume of 114,652. The business has a 50-day simple moving average of $16.27 and a 200-day simple moving average of $17.40. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.15. Forrester Research has a 52-week low of $14.38 and a 52-week high of $27.89.

Institutional Trading of Forrester Research

Hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new stake in Forrester Research in the 2nd quarter worth about $4,271,000. Acadian Asset Management LLC grew its holdings in shares of Forrester Research by 511.8% in the second quarter. Acadian Asset Management LLC now owns 230,848 shares of the technology company’s stock valued at $3,940,000 after purchasing an additional 193,116 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Forrester Research during the third quarter worth about $3,119,000. Millennium Management LLC raised its stake in Forrester Research by 134.7% during the second quarter. Millennium Management LLC now owns 274,440 shares of the technology company’s stock worth $4,687,000 after purchasing an additional 157,510 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Forrester Research in the 2nd quarter valued at about $995,000. 55.20% of the stock is owned by hedge funds and other institutional investors.

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.