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

Forrester Research, Inc. (NASDAQ:FORR) saw a large 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. Based on an average daily volume of 119,200 shares, the days-to-cover ratio is presently 3.7 days. Currently, 3.8% of the company’s stock are sold short.

Forrester Research Stock Down 0.7 %

NASDAQ FORR traded down $0.12 on Wednesday, hitting $17.18. 48,817 shares of the stock traded hands, compared to its average volume of 144,029. The stock has a 50-day moving average of $17.84 and a 200 day moving average of $20.92. Forrester Research has a twelve month low of $16.14 and a twelve month high of $32.79. The company has a market capitalization of $328.31 million, a P/E ratio of 572.67, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FORR. Vanguard Group Inc. lifted its holdings in Forrester Research by 0.5% in the third quarter. Vanguard Group Inc. now owns 1,389,683 shares of the technology company’s stock worth $40,162,000 after acquiring an additional 7,316 shares during the last quarter. Kent Lake Capital LLC bought a new stake in shares of Forrester Research in the 1st quarter worth approximately $11,473,000. Wellington Management Group LLP acquired a new position in Forrester Research during the 4th quarter valued at approximately $2,327,000. Advisors Preferred LLC bought a new position in Forrester Research during the 1st quarter worth $1,428,000. Finally, M&T Bank Corp increased its position in Forrester Research by 18.9% in the fourth quarter. M&T Bank Corp now owns 68,482 shares of the technology company’s stock worth $1,836,000 after buying an additional 10,909 shares during the period. 55.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.