Forian (NASDAQ:FORA) Shares Down 1.8% – Here’s Why

by · The Cerbat Gem

Forian Inc. (NASDAQ:FORA – Get Free Report)’s stock price dropped 1.8% during trading on Friday . The company traded as low as $2.13 and last traded at $2.14. Approximately 40,895 shares were traded during trading, a decline of 29% from the average daily volume of 57,677 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forian in a research report on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Forian has an average rating of “Sell”.

View Our Latest Stock Report on Forian

Forian Trading Down 1.8%

The company has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $2.10. The stock has a market cap of $66.49 million, a P/E ratio of -24.33 and a beta of 1.03.

Forian (NASDAQ:FORA – Get Free Report) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $7.76 million for the quarter, compared to the consensus estimate of $7.26 million.

Institutional Investors Weigh In On Forian

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC boosted its stake in shares of Forian by 178.2% during the 3rd quarter. Citadel Advisors LLC now owns 38,369 shares of the company’s stock worth $86,000 after buying an additional 24,578 shares during the last quarter. Portland Global Advisors LLC acquired a new stake in shares of Forian in the third quarter valued at about $56,000. Finally, Caprock Group LLC bought a new stake in Forian during the third quarter worth about $195,000. 19.25% of the stock is owned by institutional investors.

About Forian

(Get Free Report)

Forian Inc provides a suite of data management capabilities, and information and analytics solutions to optimize and measure operational, clinical, and financial performance for customers in the healthcare and related industries. It develops commercial, real world evidence (RWE), and market access solutions and proprietary data-driven insights, as well as offers data management solutions.

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