Forian (NASDAQ:FORA) Shares Up 0.5% – Here’s Why

Forian Inc. (NASDAQ:FORA)’s stock price was up 0.5% during mid-day trading on Wednesday . The company traded as high as $2.14 and last traded at $2.11. Approximately 7,333 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 18,710 shares. The stock had previously closed at $2.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forian in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Forian Trading Up 0.5%

The firm has a fifty day moving average of $2.13 and a 200 day moving average of $2.12. The company has a market capitalization of $65.56 million, a P/E ratio of -24.33 and a beta of 1.03.

Forian (NASDAQ:FORA) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $7.76 million for the quarter, compared to analysts’ expectations of $7.26 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Caprock Group LLC bought a new stake in shares of Forian during the 3rd quarter valued at about $195,000. Portland Global Advisors LLC bought a new position in shares of Forian in the 3rd quarter worth approximately $56,000. Finally, Citadel Advisors LLC boosted its holdings in shares of Forian by 178.2% in the third quarter. Citadel Advisors LLC now owns 38,369 shares of the company’s stock worth $86,000 after buying an additional 24,578 shares during the last quarter. 19.25% of the stock is owned by hedge funds and other institutional investors.

Forian Company Profile

Forian (NASDAQ: FORA) is a global regulatory technology company offering cloud-native software solutions for enterprise risk management and financial crime compliance. The company’s platform enables financial institutions to automate and streamline regulatory reporting, transaction surveillance, market risk measurement and client onboarding processes. By consolidating data across multiple asset classes and jurisdictions, Forian helps organizations maintain compliance with evolving regulatory frameworks such as MiFID II, EMIR, Dodd-Frank, FATCA and local AML/KYC requirements.

Founded in 2013 as RegTek Solutions, the business rebranded to Forian in 2023 following a period of strategic expansion into complementary risk and compliance offerings.