Wall Street Zen Upgrades Forum Markets (NASDAQ:FRMM) to Sell

Forum Markets (NASDAQ:FRMM) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday, Wall Street Zen reports.

FRMM has been the topic of a number of other reports. Clear Str raised shares of Forum Markets to a “strong-buy” rating in a research note on Monday, May 11th. Zacks Research raised shares of Forum Markets to a “hold” rating in a research report on Friday, May 29th. Benchmark upped their target price 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. Loop Capital set a $11.00 price target on shares of Forum Markets in a research report on Monday, May 11th. Finally, Weiss Ratings raised shares of Forum Markets from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Forum Markets Stock Down 3.2%

Shares of NASDAQ:FRMM opened at $5.67 on Friday. Forum Markets has a twelve month low of $1.76 and a twelve month high of $29.60. The stock’s 50 day moving average price is $5.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.69 and a quick ratio of 2.69. The firm has a market capitalization of $74.84 million, a price-to-earnings ratio of -0.17 and a beta of 1.38.

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

Insiders Place Their Bets

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

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.