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

Wall Street Zen lowered shares of Forum Markets (NASDAQ:FRMM) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

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

Forum Markets Trading Up 10.0%

NASDAQ:FRMM opened at $6.03 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.69 and a current ratio of 2.69. Forum Markets has a twelve month low of $1.76 and a twelve month high of $37.50. The stock has a market cap of $79.60 million, a P/E ratio of -0.18 and a beta of 1.38. The stock’s 50 day moving average is $5.73.

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 analysts’ consensus estimates of ($0.21) by ($0.52). Forum Markets had a negative return on equity of 216.23% and a negative net margin of 4,971.75%.The company had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $3.30 million. As a group, analysts expect that Forum Markets will post -5.38 EPS for the current fiscal year.

Insider Activity at Forum Markets

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