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

Forrester Research, Inc. (NASDAQ:FORR - Get Free Report) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 321,400 shares, a drop of 10.9% from the October 15th total of 360,800 shares. Based on an average daily trading volume, of 73,400 shares, the short-interest ratio is presently 4.4 days. Approximately 2.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Forrester Research

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd raised its position in Forrester Research by 62.4% during the second quarter. Point72 DIFC Ltd now owns 1,713 shares of the technology company's stock valued at $29,000 after purchasing an additional 658 shares in the last quarter. FMR LLC raised its position in Forrester Research by 138.7% during the third quarter. FMR LLC now owns 2,535 shares of the technology company's stock valued at $46,000 after purchasing an additional 1,473 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in Forrester Research during the first quarter valued at about $186,000. Paloma Partners Management Co purchased a new stake in Forrester Research during the first quarter valued at about $222,000. Finally, Comerica Bank increased its holdings in shares of Forrester Research by 123.3% in the first quarter. Comerica Bank now owns 11,789 shares of the technology company's stock worth $254,000 after buying an additional 6,510 shares during the period. Hedge funds and other institutional investors own 55.20% of the company's stock.

Forrester Research Price Performance

Shares of FORR stock traded down $0.63 on Friday, reaching $16.09. The company's stock had a trading volume of 95,404 shares, compared to its average volume of 77,120. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.15. Forrester Research has a 12-month low of $14.38 and a 12-month high of $27.89. The company has a market capitalization of $305.71 million, a P/E ratio of -45.97, a PEG ratio of 1.30 and a beta of 0.88. The stock's 50 day simple moving average is $16.62 and its 200-day simple moving average is $17.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Forrester Research from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th.

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.