Forbright, Inc. (NASDAQ:FRBT) Short Interest Update

Forbright, Inc. (NASDAQ:FRBT) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 122,070 shares, a decrease of 50.3% from the June 30th total of 245,669 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 125,092 shares, the short-interest ratio is presently 1.0 days.

Forbright Price Performance

Shares of FRBT traded down $0.15 during trading hours on Tuesday, hitting $19.57. 79,560 shares of the company were exchanged, compared to its average volume of 134,615. Forbright has a one year low of $17.48 and a one year high of $22.00.

Analyst Ratings Changes

FRBT has been the topic of several research analyst reports. Wells Fargo & Company started coverage on Forbright in a research report on Monday, July 6th. They set an “overweight” rating and a $21.00 price target on the stock. Zacks Research raised Forbright to a “hold” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group initiated coverage on Forbright in a report on Monday, July 6th. They set a “buy” rating and a $23.50 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “neutral” rating and a $21.00 price target on the stock. Finally, Wall Street Zen raised shares of Forbright from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Forbright currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.