Forum Markets (NASDAQ:FRMM) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Forum Markets from “sell” to “strong sell,” despite other analysts issuing more positive ratings; the overall analyst consensus remains “Moderate Buy” with an average price target of $10.00.
• Forum Markets reported a quarterly loss of $0.73 per share, missing the $0.21 consensus estimate, while revenue of $1.37 million fell short of the $3.30 million forecast.
• The stock opened at $5.48, well below its 12-month high of $37.50. A major shareholder also sold 250,000 shares for $1.5 million, reducing their position by 16.93%.

Forum Markets (NASDAQ:FRMM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

Other equities analysts also recently issued reports about the company. Loop Capital set a $11.00 price target on Forum Markets in a research note on Monday, May 11th. Clear Str upgraded Forum Markets to a "strong-buy" rating in a research note on Monday, May 11th. Benchmark increased their target price on Forum Markets from $5.00 to $9.00 and gave the stock a "speculative buy" rating in a report on Friday, May 15th. Weiss Ratings raised Forum Markets from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 21st. Finally, Zacks Research upgraded Forum Markets to a "hold" rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $10.00.

Forum Markets Price Performance

NASDAQ FRMM opened at $5.48 on Friday. The company has a market cap of $72.34 million, a P/E ratio of -0.16 and a beta of 1.38. The company has a quick ratio of 6.19, a current ratio of 2.69 and a debt-to-equity ratio of 0.20. Forum Markets has a 12 month low of $1.76 and a 12 month high of $37.50. The company's fifty day moving average is $5.73.

Forum Markets (NASDAQ:FRMM - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.52). The company had revenue of $1.37 million during the quarter, compared to the consensus estimate of $3.30 million. Forum Markets had a negative return on equity of 216.23% and a negative net margin of 4,971.75%. As a group, analysts anticipate that Forum Markets will post -5.38 EPS for the current year.

Insider Activity

In other news, major shareholder Konstantin Lomashuk sold 250,000 shares of the firm's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $6.00, for a total value of $1,500,000.00. Following the transaction, the insider directly owned 1,226,638 shares in the company, valued at approximately $7,359,828. This trade represents a 16.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 258,189 shares of company stock valued at $1,551,303. Company insiders own 25.20% of the company's stock.

Forum Markets Company Profile

Forum Markets Inc is a digital asset platform modernizing capital markets through the tokenization of institutional-grade real-world assets on Ethereum. The company structures cash-generating assets on blockchain-based infrastructure to facilitate liquidity, investor access, and primary and secondary market activity. It combines traditional asset management practices with digital market infrastructure to support the origination, distribution, and trading of real-world assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source