Forrester Research, Inc. (NASDAQ:FORR) Sees Large Decrease in Short Interest

Forrester Research, Inc. (NASDAQ:FORR) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 437,700 shares, a decline 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 presently 3.7 days.

Institutional Trading of Forrester Research

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Forrester Research by 52.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,553 shares of the technology company’s stock valued at $42,000 after buying an additional 533 shares during the period. Wedge Capital Management L L P NC boosted its holdings in 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 acquiring an additional 593 shares during the last quarter. Quadrature Capital Ltd grew its position in Forrester Research by 5.2% during the third quarter. Quadrature Capital Ltd now owns 15,043 shares of the technology company’s stock valued at $435,000 after acquiring an additional 741 shares during the period. SG Americas Securities LLC increased its stake in Forrester Research by 20.8% during the fourth quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock worth $117,000 after acquiring an additional 753 shares during the last quarter. Finally, Auxier Asset Management raised its holdings in shares of Forrester Research by 2.5% in the 3rd quarter. Auxier Asset Management now owns 35,783 shares of the technology company’s stock worth $1,034,000 after purchasing an additional 867 shares during the period. 55.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Forrester Research Trading Down 0.7 %

Shares of NASDAQ:FORR traded down $0.12 during trading on Wednesday, reaching $17.18. The stock had a trading volume of 48,817 shares, compared to its average volume of 144,029. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock 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. The business has a fifty day moving average price of $17.84 and a 200-day moving average price of $20.92. Forrester Research has a fifty-two week low of $16.14 and a fifty-two week high of $32.79.

Forrester Research (NASDAQ:FORR) last issued its quarterly earnings results 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 net margin of 0.10% and a return on equity of 9.30%. The business had revenue of $100.08 million during the quarter, compared to analyst estimates of $104.21 million. As a group, analysts anticipate that Forrester Research will post 1.04 earnings per share for the current fiscal year.

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.