Short Interest in Forrester Research, Inc. (NASDAQ:FORR) Declines By 31.6%

Forrester Research, Inc. (NASDAQ:FORR) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 157,800 shares, a drop of 31.6% from the January 31st total of 230,600 shares. Based on an average daily volume of 62,500 shares, the short-interest ratio is presently 2.5 days. Currently, 1.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. StockNews.com upgraded Forrester Research from a “hold” rating to a “buy” rating in a research note on Saturday, December 14th. Sidoti upgraded Forrester Research to a “hold” rating in a research note on Wednesday, February 12th.

Hedge Funds Weigh In On Forrester Research

Several hedge funds and other institutional investors have recently modified their holdings of FORR. Barclays PLC grew its position in Forrester Research by 71.1% during the 3rd quarter. Barclays PLC now owns 44,090 shares of the technology company’s stock worth $794,000 after acquiring an additional 18,319 shares during the last quarter. FMR LLC lifted its stake in shares of Forrester Research by 138.7% in the 3rd 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 during the period. SG Americas Securities LLC acquired a new position in shares of Forrester Research in the 4th quarter valued at about $111,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Forrester Research in the 3rd quarter valued at about $3,119,000. Finally, State Street Corp lifted its stake in shares of Forrester Research by 1.0% in the 3rd quarter. State Street Corp now owns 253,181 shares of the technology company’s stock valued at $4,560,000 after purchasing an additional 2,589 shares during the period. Institutional investors own 55.20% of the company’s stock.

Forrester Research Price Performance

Shares of FORR traded down $0.02 during midday trading on Tuesday, hitting $10.77. The company’s stock had a trading volume of 80,808 shares, compared to its average volume of 68,093. Forrester Research has a one year low of $10.52 and a one year high of $21.91. The company’s fifty day simple moving average is $14.36 and its two-hundred day simple moving average is $16.02. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $204.59 million, a price-to-earnings ratio of -35.90, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91.

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.