Forian (NASDAQ:FORA) Stock Price Down 1.8% – Time to Sell?

Forian Inc. (NASDAQ:FORA) dropped 1.8% during mid-day trading on Friday . The company traded as low as $2.13 and last traded at $2.14. Approximately 40,895 shares changed hands 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 Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forian in a report on Thursday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Forian presently has a consensus rating of “Sell”.

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) last released its earnings results 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 company had revenue of $7.76 million during the quarter, compared to analyst estimates of $7.26 million.

Institutional Trading of Forian

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC raised its position in shares of Forian by 178.2% in the third quarter. Citadel Advisors LLC now owns 38,369 shares of the company’s stock valued at $86,000 after buying an additional 24,578 shares in the last quarter. Portland Global Advisors LLC acquired a new stake in Forian during the third quarter worth approximately $56,000. Finally, Caprock Group LLC bought a new position in Forian during the 3rd quarter worth $195,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Forian Company Profile

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.