Forum Markets (NASDAQ:FRMM) Cut to “Strong Sell” at Wall Street Zen

Forum Markets (NASDAQ:FRMM) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Benchmark raised their price target on Forum Markets from $5.00 to $9.00 and gave the stock a “speculative buy” rating in a research note on Friday, May 15th. Weiss Ratings raised Forum Markets from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Zacks Research upgraded Forum Markets to a “hold” rating in a research report on Friday, May 29th. Loop Capital set a $11.00 price objective on Forum Markets in a research report on Monday, May 11th. Finally, Clear Str upgraded Forum Markets to a “strong-buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Forum Markets presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Forum Markets Price Performance

NASDAQ:FRMM traded up $0.55 during midday trading on Friday, reaching $6.03. 378,042 shares of the company traded hands, compared to its average volume of 735,062. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.20. Forum Markets has a twelve month low of $1.76 and a twelve month high of $37.50. The firm has a fifty day moving average of $5.73. The stock has a market capitalization of $79.60 million, a price-to-earnings ratio of -0.18 and a beta of 1.38.

Forum Markets (NASDAQ:FRMM) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.52). The business had revenue of $1.37 million for the quarter, compared to analyst estimates of $3.30 million. Forum Markets had a negative return on equity of 216.23% and a negative net margin of 4,971.75%. On average, equities research analysts forecast that Forum Markets will post -5.38 earnings per share for the current fiscal year.

Insider Activity at Forum Markets

In other Forum Markets news, major shareholder Konstantin Lomashuk sold 250,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,226,638 shares of the company’s stock, valued at approximately $7,359,828. The trade was a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 258,189 shares of company stock worth $1,551,303 over the last ninety days. 25.20% of the stock is owned by insiders.

About Forum Markets

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.