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

Forum Markets (NASDAQ:FRMM) released 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.

Forum Markets Stock Performance

Shares of FRMM traded up $0.05 on Thursday, reaching $6.24. The stock had a trading volume of 187,872 shares, compared to its average volume of 238,227. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.19 and a quick ratio of 6.19. The company’s 50-day moving average is $5.68. Forum Markets has a twelve month low of $1.76 and a twelve month high of $81.00.

Insider Buying and Selling

In other Forum Markets news, major shareholder Konstantin Lomashuk sold 250,000 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $6.00, for a total value of $1,500,000.00. Following the sale, the insider owned 1,226,638 shares of the company’s stock, valued at approximately $7,359,828. This represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 258,189 shares of company stock worth $1,551,303 in the last quarter. 25.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FRMM has been the topic of a number of recent research reports. Wall Street Zen cut shares of Forum Markets from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Clear Str upgraded shares of Forum Markets to a “strong-buy” rating in a research report on Monday, May 11th. Benchmark increased their price target on shares of Forum Markets from $5.00 to $9.00 and gave the stock a “speculative buy” rating in a report on Friday, May 15th. Zacks Research raised Forum Markets to a “hold” rating in a report on Friday, May 29th. Finally, Loop Capital set a $11.00 target price on Forum Markets in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Forum Markets currently has an average rating of “Moderate Buy” and a consensus 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.