Short Interest in Forrester Research, Inc. (NASDAQ:FORR) Rises By 103.3%

Forrester Research, Inc. (NASDAQ:FORR) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 561,800 shares, an increase of 103.3% from the June 30th total of 276,300 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 123,700 shares, the short-interest ratio is currently 4.5 days.

Forrester Research Price Performance

NASDAQ FORR traded up $0.11 during trading hours on Friday, hitting $19.25. The company had a trading volume of 53,968 shares, compared to its average volume of 116,648. 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 firm has a market capitalization of $367.87 million, a price-to-earnings ratio of 641.67, a PEG ratio of 1.37 and a beta of 0.91. Forrester Research has a 52 week low of $16.14 and a 52 week high of $32.78. The firm has a 50 day simple moving average of $17.56 and a 200 day simple moving average of $19.91.

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

Hedge Funds Weigh In On Forrester Research

A number of large investors have recently modified their holdings of FORR. PNC Financial Services Group Inc. lifted its stake in 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 worth $42,000 after purchasing an additional 533 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Forrester Research by 2.4% in the 4th 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. SG Americas Securities LLC boosted its holdings in Forrester Research by 20.8% during the 4th quarter. SG Americas Securities LLC now owns 4,380 shares of the technology company’s stock valued at $117,000 after acquiring an additional 753 shares during the period. Quest Partners LLC purchased a new stake in Forrester Research during the 4th quarter valued at about $28,000. Finally, Bank of New York Mellon Corp grew its position in Forrester Research by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,248 shares of the technology company’s stock worth $1,012,000 after acquiring an additional 3,306 shares during the last quarter. 55.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Forrester Research from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th.

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.