Forrester Research, Inc. (NASDAQ:FORR) Short Interest Down 10.9% in October

Forrester Research, Inc. (NASDAQ:FORR) 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 days-to-cover ratio is currently 4.4 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised Forrester Research from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

Forrester Research Stock Performance

Shares of FORR traded down $0.63 during midday trading on Friday, reaching $16.09. 95,404 shares of the stock were exchanged, compared to its average volume of 77,120. Forrester Research has a twelve month low of $14.38 and a twelve month high of $27.89. The company has a quick ratio of 0.91, a current ratio of 0.98 and a debt-to-equity ratio of 0.15. The company has a market cap 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd raised its stake in Forrester Research by 62.4% in 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 grew its position in Forrester Research by 138.7% in the third quarter. FMR LLC now owns 2,535 shares of the technology company’s stock valued at $46,000 after acquiring an additional 1,473 shares during the last quarter. State Street Corp grew its position in Forrester Research by 1.0% in the third quarter. State Street Corp now owns 253,181 shares of the technology company’s stock valued at $4,560,000 after acquiring an additional 2,589 shares during the last quarter. Rhumbline Advisers grew its position in Forrester Research by 17.4% in the second quarter. Rhumbline Advisers now owns 17,951 shares of the technology company’s stock valued at $307,000 after acquiring an additional 2,661 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Forrester Research by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 96,308 shares of the technology company’s stock valued at $1,735,000 after acquiring an additional 3,289 shares during the last quarter. Institutional investors and hedge funds own 55.20% of the company’s stock.

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.