Forian (NASDAQ:FORA) Stock Price Up 8.4% – Still a Buy?

Forian Inc. (NASDAQ:FORA) rose 8.4% during trading on Wednesday . The company traded as high as $2.67 and last traded at $2.33. Approximately 88,575 shares changed hands during mid-day trading, an increase of 350% from the average daily volume of 19,704 shares. The stock had previously closed at $2.15.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and set a $5.00 price target on shares of Forian in a research note on Thursday, November 14th.

Forian Price Performance

The stock’s 50 day moving average is $2.08 and its two-hundred day moving average is $2.21. The stock has a market capitalization of $72.27 million, a PE ratio of -25.89 and a beta of 1.05.

Institutional Trading of Forian

An institutional investor recently raised its position in Forian stock. Canton Hathaway LLC increased its holdings in shares of Forian Inc. (NASDAQ:FORA) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,650 shares of the company’s stock after purchasing an additional 6,125 shares during the period. Canton Hathaway LLC owned 0.87% of Forian worth $582,000 as of its most recent SEC filing. Institutional investors and hedge funds own 19.25% of the company’s stock.

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.