Short Interest in Forian Inc. (NASDAQ:FORA) Grows By 8.0%

Forian Inc. (NASDAQ:FORA) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 179,000 shares, a growth of 8.0% from the March 31st total of 165,700 shares. Based on an average daily volume of 27,300 shares, the days-to-cover ratio is presently 6.6 days. Currently, 1.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Forian

A number of large investors have recently bought and sold shares of FORA. Staley Capital Advisers Inc. raised its holdings in shares of Forian by 0.7% in the fourth quarter. Staley Capital Advisers Inc. now owns 1,108,003 shares of the company’s stock worth $3,241,000 after acquiring an additional 8,003 shares during the last quarter. Canton Hathaway LLC lifted its holdings in Forian by 6.8% in the 4th quarter. Canton Hathaway LLC now owns 263,525 shares of the company’s stock valued at $771,000 after purchasing an additional 16,725 shares in the last quarter. Oracle Investment Management Inc. boosted its stake in shares of Forian by 0.3% during the 3rd quarter. Oracle Investment Management Inc. now owns 1,368,067 shares of the company’s stock worth $3,051,000 after purchasing an additional 3,738 shares during the last quarter. Aufman Associates Inc purchased a new position in shares of Forian during the third quarter valued at approximately $117,000. Finally, Pathstone Family Office LLC acquired a new stake in Forian during the third quarter worth approximately $39,000. Institutional investors and hedge funds own 19.25% of the company’s stock.

Forian Trading Down 0.2 %

Shares of FORA stock traded down $0.01 during mid-day trading on Wednesday, reaching $2.61. The stock had a trading volume of 12,470 shares, compared to its average volume of 25,578. The company has a market cap of $81.25 million, a P/E ratio of 7.88 and a beta of 1.03. Forian has a 12-month low of $1.85 and a 12-month high of $4.15. The business has a 50-day simple moving average of $2.97 and a 200 day simple moving average of $2.75.

Forian (NASDAQ:FORA) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.01) EPS for the quarter. The company had revenue of $5.37 million for the quarter, compared to analysts’ expectations of $5.72 million.

Analyst Ratings Changes

Separately, Roth Mkm reissued a “buy” rating and set a $5.00 price objective on shares of Forian in a report on Thursday, April 4th.

About Forian

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.