Forian (NASDAQ:FORA) Shares Up 2.9% – Here’s Why

Forian Inc. (NASDAQ:FORA) shot up 2.9% during trading on Thursday . The company traded as high as $2.13 and last traded at $2.12. 3,201 shares traded hands during trading, a decline of 81% from the average session volume of 16,547 shares. The stock had previously closed at $2.06.

Forian Stock Performance

The firm has a market capitalization of $66.15 million, a P/E ratio of -23.56 and a beta of 1.02. The stock has a 50-day moving average of $2.04 and a 200 day moving average of $2.12.

Forian (NASDAQ:FORA) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The business had revenue of $7.06 million during the quarter, compared to analysts’ expectations of $5.37 million.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Forian in the 4th quarter valued at $30,000. Renaissance Technologies LLC boosted its position in Forian by 48.9% in the 4th quarter. Renaissance Technologies LLC now owns 35,301 shares of the company’s stock valued at $73,000 after buying an additional 11,601 shares during the last quarter. Finally, Oracle Investment Management Inc. boosted its position in Forian by 0.7% in the 4th quarter. Oracle Investment Management Inc. now owns 1,366,107 shares of the company’s stock valued at $2,814,000 after buying an additional 10,000 shares during the last quarter. 19.25% of the stock is currently owned by 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.