Forian (NASDAQ:FORA) Trading Up 0.3% - Here's Why

Key Points

• Forian Inc. (NASDAQ:FORA) shares increased by 0.3% during Tuesday’s trading, closing at $1.93 after reaching a high of $1.94.
• In its latest earnings report, Forian posted a loss per share of ($0.04), missing expectations, but exceeded revenue forecasts with $7.06 million in revenue for the quarter.
• Oracle Investment Management Inc. raised its stake in Forian by 0.7%, making it about 1.5% of their portfolio, with a total ownership of 4.40% of Forian's stock.

Forian Inc. (NASDAQ:FORA - Get Free Report)'s share price shot up 0.3% during mid-day trading on Tuesday . The stock traded as high as $1.94 and last traded at $1.93. 7,938 shares were traded during mid-day trading, a decline of 59% from the average session volume of 19,312 shares. The stock had previously closed at $1.92.

Forian Stock Performance

The company's fifty day moving average is $2.01 and its 200-day moving average is $2.10. The company has a market capitalization of $59.28 million, a PE ratio of -21.11 and a beta of 1.00.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Forian stock. Renaissance Technologies LLC boosted its holdings in Forian Inc. (NASDAQ:FORA - Free Report) by 48.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,301 shares of the company's stock after purchasing an additional 11,601 shares during the quarter. Renaissance Technologies LLC owned approximately 0.11% of Forian worth $73,000 as of its most recent SEC filing. Institutional investors 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.