Forbright, Inc. (NASDAQ:FRBT) Sees Significant Drop in Short Interest

Forbright, Inc. (NASDAQ:FRBT) was the recipient of a significant decrease in short interest in 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. Based on an average daily trading volume, of 125,092 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the company’s stock are sold short.

Forbright Price Performance

NASDAQ:FRBT remained flat at $19.63 during midday trading on Thursday. The company had a trading volume of 102,774 shares, compared to its average volume of 135,338. Forbright has a twelve month low of $17.48 and a twelve month high of $22.00.

Forbright (NASDAQ:FRBT) last issued its earnings results on Thursday, July 30th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04).

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FRBT shares. Zacks Research upgraded Forbright to a “hold” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. assumed coverage on Forbright in a research note on Monday, July 6th. They set a “neutral” rating and a $21.00 price objective on the stock. Barclays assumed coverage on shares of Forbright in a report on Monday, July 6th. They issued an “overweight” rating and a $23.00 price objective for the company. TD Cowen assumed coverage on shares of Forbright in a research note on Monday, July 6th. They set a “buy” rating for the company. Finally, Wells Fargo & Company assumed coverage on shares of Forbright in a report on Monday, July 6th. They set an “overweight” rating and a $21.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.