Forrester Research (NASDAQ:FORR) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Forrester Research shares have recently crossed above their 200-day moving average of $9.99, trading as high as $10.85.
• Zacks Research has upgraded Forrester's rating from "strong sell" to "hold," aligning with Wall Street analysts who currently hold a neutral outlook on the stock.
• Institutional investors own approximately 55.20% of Forrester Research, with notable increases in shareholdings from various hedge funds recently.

Shares of Forrester Research, Inc. (NASDAQ:FORR - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.99 and traded as high as $10.85. Forrester Research shares last traded at $10.28, with a volume of 98,858 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Forrester Research from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Forrester Research Price Performance

The company's 50-day moving average is $10.08 and its two-hundred day moving average is $9.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $195.97 million, a P/E ratio of -2.19, a PEG ratio of 0.96 and a beta of 0.95.

Institutional Investors Weigh In On Forrester Research

Several institutional investors and hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC lifted its position in Forrester Research by 3.2% during the second quarter. SummerHaven Investment Management LLC now owns 47,725 shares of the technology company's stock worth $472,000 after purchasing an additional 1,462 shares during the period. Jane Street Group LLC lifted its position in Forrester Research by 7.8% during the second quarter. Jane Street Group LLC now owns 20,741 shares of the technology company's stock worth $205,000 after purchasing an additional 1,494 shares during the period. Engineers Gate Manager LP lifted its position in Forrester Research by 9.7% during the second quarter. Engineers Gate Manager LP now owns 19,626 shares of the technology company's stock worth $194,000 after purchasing an additional 1,728 shares during the period. Squarepoint Ops LLC lifted its position in Forrester Research by 23.0% during the fourth quarter. Squarepoint Ops LLC now owns 12,944 shares of the technology company's stock worth $203,000 after purchasing an additional 2,418 shares during the period. Finally, Federated Hermes Inc. lifted its position in Forrester Research by 1.0% during the second quarter. Federated Hermes Inc. now owns 252,810 shares of the technology company's stock worth $2,503,000 after purchasing an additional 2,446 shares during the period. Institutional investors own 55.20% of the company's stock.

About Forrester Research

Forrester Research, Inc operates as an independent research and advisory company in the United States and internationally. The company operates in three segments: Research, Consulting, and Events. The Research segment primary subscription research services include Forrester Decisions, Forrester Research, and SiriusDecisions Research, which are designed to provide business and technology leaders with a proven path to growth through customer obsession.

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