Forian (NASDAQ:FORA) Shares Down 1.5% - Should You Sell?

Shares of Forian Inc. (NASDAQ:FORA - Get Free Report) dropped 1.5% during mid-day trading on Monday . The company traded as low as $2.01 and last traded at $2.02. Approximately 17,048 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 16,557 shares. The stock had previously closed at $2.05.

Forian Trading Up 2.3%

The stock's 50-day simple moving average is $2.06 and its 200-day simple moving average is $2.12. The firm has a market capitalization of $61.94 million, a P/E ratio of -22.06 and a beta of 1.00.

Forian (NASDAQ:FORA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.06). The company had revenue of $7.06 million for the quarter, compared to the consensus estimate of $5.37 million.

Institutional Trading of Forian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in Forian during the fourth quarter valued at approximately $30,000. Renaissance Technologies LLC boosted its position in shares of Forian by 48.9% in the fourth quarter. Renaissance Technologies LLC now owns 35,301 shares of the company's stock worth $73,000 after purchasing an additional 11,601 shares during the period. Finally, Oracle Investment Management Inc. boosted its position in shares of Forian by 0.7% during the fourth quarter. Oracle Investment Management Inc. now owns 1,366,107 shares of the company's stock worth $2,814,000 after acquiring an additional 10,000 shares during the last quarter. 19.25% of the stock is currently owned by hedge funds and other institutional investors.

About Forian

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.