Forum Markets (NASDAQ:FRMM) Releases Quarterly Earnings Results, Misses Estimates By $0.52 EPS

Forum Markets (NASDAQ:FRMM) posted its quarterly earnings data on Thursday. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.52), Zacks reports. The firm had revenue of $1.37 million for the quarter, compared to analysts’ expectations of $3.30 million.

Forum Markets Trading Down 2.2%

Shares of FRMM stock traded down $0.14 during trading hours on Friday, hitting $6.10. The company’s stock had a trading volume of 48,219 shares, compared to its average volume of 757,045. The stock has a market cap of $81.74 million, a PE ratio of -0.17 and a beta of 1.38. Forum Markets has a 12-month low of $1.76 and a 12-month high of $74.50. The stock has a 50 day simple moving average of $5.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.19 and a current ratio of 6.19.

Insider Activity

In related news, major shareholder Konstantin Lomashuk sold 250,000 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $6.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider directly owned 1,226,638 shares in the company, valued at $7,359,828. The trade was a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 258,189 shares of company stock worth $1,551,303 over the last three months. Company insiders own 25.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Benchmark boosted their target price on shares of Forum Markets from $5.00 to $9.00 and gave the stock a “speculative buy” rating in a research report on Friday, May 15th. Wall Street Zen cut shares of Forum Markets from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings upgraded shares of Forum Markets from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Clear Str raised Forum Markets to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Loop Capital set a $11.00 price target on Forum Markets in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.00.

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.