Forrester Research (NASDAQ:FORR) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Forrester Research's stock price has recently crossed above its 200-day moving average, indicating a potential upward trend, with shares trading at $11.50 compared to the average of $10.94.
• Wall Street analysts upgraded Forrester Research from a "hold" rating to a "buy" rating, suggesting increased confidence in the company's growth potential.
• Institutional investors have been actively trading the stock, with a notable increase in positions from several hedge funds, reflecting a growing interest in Forrester Research.

Forrester Research, Inc. (NASDAQ:FORR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.94 and traded as high as $11.50. Forrester Research shares last traded at $10.94, with a volume of 226,042 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Forrester Research from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Forrester Research Price Performance

The firm has a market capitalization of $196.41 million, a price-to-earnings ratio of -2.19, a P/E/G ratio of 0.98 and a beta of 0.94. The company's 50 day moving average is $10.22 and its 200-day moving average is $10.83. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Forrester Research by 279.6% in the 2nd quarter. CWM LLC now owns 4,244 shares of the technology company's stock valued at $42,000 after acquiring an additional 3,126 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in Forrester Research in the 2nd quarter valued at about $104,000. SummerHaven Investment Management LLC raised its holdings in Forrester Research by 3.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 47,725 shares of the technology company's stock valued at $472,000 after acquiring an additional 1,462 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Forrester Research by 189.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,050 shares of the technology company's stock valued at $40,000 after acquiring an additional 2,650 shares during the period. Finally, Jane Street Group LLC bought a new position in Forrester Research in the 1st quarter valued at about $178,000. 55.20% of the stock is owned by institutional investors.

Forrester Research Company Profile

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.