Short Interest in Fortrea Holdings Inc. (NASDAQ:FTRE) Declines By 13.3%

Fortrea Holdings Inc. (NASDAQ:FTRE) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 8,829,744 shares, a decrease of 13.3% from the December 31st total of 10,184,921 shares. Based on an average daily trading volume, of 1,485,796 shares, the days-to-cover ratio is presently 5.9 days. Currently, 9.6% of the company’s stock are sold short. Currently, 9.6% of the company’s stock are sold short. Based on an average daily trading volume, of 1,485,796 shares, the days-to-cover ratio is presently 5.9 days.

Analyst Ratings Changes

Several research analysts have recently commented on FTRE shares. Barclays set a $15.00 target price on Fortrea and gave the stock an “equal weight” rating in a research report on Monday, December 15th. Citigroup raised shares of Fortrea from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $21.00 in a report on Thursday, December 11th. Wall Street Zen cut shares of Fortrea from a “buy” rating to a “hold” rating in a report on Monday, October 27th. Truist Financial set a $22.00 price target on shares of Fortrea and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Mizuho set a $15.00 price objective on shares of Fortrea in a research report on Friday, January 9th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.75.

Fortrea Stock Performance

NASDAQ:FTRE traded down $0.39 during mid-day trading on Tuesday, hitting $16.48. The stock had a trading volume of 68,137 shares, compared to its average volume of 1,208,695. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.81. The company has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $11.63. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1.45, a P/E/G ratio of 0.49 and a beta of 1.59. Fortrea has a 52 week low of $3.97 and a 52 week high of $18.67.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). Fortrea had a negative net margin of 36.77% and a positive return on equity of 5.64%. The firm had revenue of $701.30 million during the quarter, compared to analyst estimates of $643.43 million. On average, research analysts expect that Fortrea will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in Fortrea by 6,802.4% in the second quarter. Allworth Financial LP now owns 5,660 shares of the company’s stock worth $28,000 after purchasing an additional 5,578 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Fortrea by 214.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,341 shares of the company’s stock worth $28,000 after buying an additional 2,278 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Fortrea by 74.3% during the 2nd quarter. Osaic Holdings Inc. now owns 6,844 shares of the company’s stock worth $38,000 after buying an additional 2,918 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Fortrea by 137.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,713 shares of the company’s stock worth $43,000 after acquiring an additional 5,036 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Fortrea in the second quarter valued at approximately $46,000.

Fortrea Company Profile

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.