Forian Inc. (NASDAQ:FORA) Short Interest Down 19.1% in October

Forian Inc. (NASDAQ:FORA) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 264,400 shares, a drop of 19.1% from the October 15th total of 326,900 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 10,200 shares, the short-interest ratio is currently 25.9 days.

Forian Price Performance

Shares of NASDAQ:FORA remained flat at $2.60 on Thursday. The stock had a trading volume of 10,910 shares, compared to its average volume of 17,218. The business has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.48. Forian has a 52-week low of $1.85 and a 52-week high of $5.45. The stock has a market capitalization of $80.54 million, a PE ratio of 14.44 and a beta of 0.95.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FORA. Vident Investment Advisory LLC grew its stake in shares of Forian by 66.2% during the first quarter. Vident Investment Advisory LLC now owns 66,340 shares of the company’s stock valued at $462,000 after buying an additional 26,435 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Forian in the second quarter worth about $59,000. Millennium Management LLC bought a new stake in shares of Forian in the second quarter worth about $846,000. Citadel Advisors LLC bought a new stake in shares of Forian in the second quarter worth about $217,000. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Forian by 43.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 35,908 shares of the company’s stock worth $137,000 after purchasing an additional 10,908 shares during the last quarter. 12.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FORA shares. Lake Street Capital lowered their price target on Forian from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Royal Bank of Canada raised their price target on Forian from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 10th.

Forian Company Profile

Forian Inc provides software and information solutions, proprietary data driven insights, and predictive analytics to optimize and measure the operational, clinical, and financial performance of its life science and healthcare customers. It operates through three segments: Information & Software, Services, and Other.