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

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

Forbright Stock Down 0.8%

FRBT stock traded down $0.15 during trading on Tuesday, hitting $19.57. The company had a trading volume of 79,560 shares, compared to its average volume of 134,615. Forbright has a fifty-two week low of $17.48 and a fifty-two week high of $22.00.

Analyst Ratings Changes

Several equities analysts have recently commented on FRBT shares. Piper Sandler started coverage on shares of Forbright in a research report on Monday, July 6th. They set a “neutral” rating and a $21.50 price target for the company. The Goldman Sachs Group started coverage on shares of Forbright in a research report on Monday, July 6th. They issued a “buy” rating and a $23.50 price objective on the stock. Wells Fargo & Company assumed coverage on shares of Forbright in a research note on Monday, July 6th. They set an “overweight” rating and a $21.00 target price for the company. Barclays began coverage on shares of Forbright in a research report on Monday, July 6th. They issued an “overweight” rating and a $23.00 target price for the company. Finally, Zacks Research raised Forbright to a “hold” rating in a report on Tuesday, July 7th. 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 data from MarketBeat.com, Forbright has a consensus rating of “Moderate Buy” and an average price target of $22.00.