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

Forrester Research, Inc. (NASDAQ:FORR) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 437,700 shares, a drop of 6.1% from the May 31st total of 466,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 119,200 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in Forrester Research in the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. increased its holdings in shares of Forrester Research by 52.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after purchasing an additional 533 shares in the last quarter. SG Americas Securities LLC raised its position in Forrester Research by 20.8% in the 4th quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock worth $117,000 after purchasing an additional 753 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Forrester Research in the 1st quarter worth approximately $186,000. Finally, Paloma Partners Management Co bought a new position in Forrester Research in the 1st quarter valued at $222,000. 55.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Forrester Research Price Performance

Shares of NASDAQ FORR traded down $0.12 during mid-day trading on Wednesday, hitting $17.18. 48,817 shares of the stock were exchanged, compared to its average volume of 144,029. Forrester Research has a twelve month low of $16.14 and a twelve month high of $32.79. The stock’s fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $20.92. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $328.31 million, a P/E ratio of 572.67, a PEG ratio of 1.22 and a beta of 0.91.

Forrester Research (NASDAQ:FORR) last released its quarterly earnings results on Tuesday, April 30th. The technology company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.12). Forrester Research had a net margin of 0.10% and a return on equity of 9.30%. 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 EPS for the current fiscal year.

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.