FORA Forian Inc. Common Stock

XNAS 2.17 Delayed
Find condors

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

FORA $2.17 —
Key stats
$2.17
52-Week Range
$2.01 – $2.43
YTD
+2.36%
IV Rank (30D)
58.55
Straddle Price
$0.82
P/C Vol Ratio
0.75
Market Cap
$0.1B
Open
$2.16
Day Range
$2.16 – $2.18
Volume
87,926
Prev Close
$2.16
About
Industry (SIC)
SERVICES-COMPUTER PROCESSING & DATA PREPARATION (7374) · industry map
Exchange
XNAS
Market Cap
$0.1B
Employees
50
List Date
2021-03-03
CIK
0001829280
Headquarters
Newtown, PA
Homepage
https://www.forian.com

Forian Inc provides a suite of Software, data management capabilities, and proprietary data and analytics to optimize and measure operational, clinical, and financial performance for customers within the traditional and emerging life sciences, healthcare payer, and provider segments, as well as cannabis dispensaries, manufacturers, and cultivators.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
Insufficient price history — listed 2054 days ago. Seasonality patterns need at least one full year of data.
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $2.16
SMA 50: $2.12
SMA 200: $2.12
Current: $2.17
EMA 12: $2.16
EMA 26: $2.15
MACD: 0.0110 | Signal: -0.0012
BULLISH
ADX (14): 58.07
STRONG TREND
+DI: 26.21
−DI: 3.11

Momentum Oscillators

RSI (14): 63.98
NEUTRAL
Stoch %K: 55.56
Stoch %D: 57.41
Williams %R: -33.33

Volume & Volatility

BB Upper: $2.17
BB Lower: $2.14
OVERBOUGHT
OBV: 6,712,892
Vol SMA 20: 49,642
Vol ROC: 1507.72%
ATR: $0.01
True Range: $0.02
HV 20: 5.6%
HV 30: 8.8%
HV 60: 10.0%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-05-16T00:00:00 – 2026-05-14T00:00:00
AI Analysis

LLM Stock Analysis Report

SYMBOL: FORA CURRENT PRICE: $2.18

Executive Summary Overall Assessment: NEUTRAL (Confidence Level: 6/10) Key Drivers: Recent neutral RSI reading, low volatility, and mixed options signals. Primary Risks: Potential for a breakout above the upper Bollinger Band or a breakdown below the lower band.

Investment Thesis: FORA is trading within a consolidative phase, with no strong trend emerging. The recent RSI reading suggests a neutral sentiment, while low volatility and mixed options signals suggest a lack of conviction among market participants. I believe that FORA's current price action is driven by its beta of 0.46, which indicates a relatively defensive profile.

Recent News Sentiment Impact: No recent news headlines available. However, the absence of significant news events could be contributing to the stock's neutral trend direction.

Technical Analysis

Trend Direction: NEUTRAL (Short-term: Consolidation, Medium-term: Uptrend, Long-term: Uptrend)

Support/Resistance Levels: SMA 20 ($2.21), SMA 50 ($2.23), Upper Bollinger Band ($2.35)

Momentum Signals:

  • RSI interpretation: Neutral (49.12)
  • MACD signal: Bearish (-0.02 / -0.00 / -0.02)
  • Bollinger Bands position: Neutral

Volume Analysis: Volume SMA 20: 40013.75, On-Balance Volume (OBV): 7071432.00, Volume Rate of Change: 53.02%

News & Sentiment Analysis

Recent Headlines Summary: No recent news headlines available.

Sentiment Assessment: Neutral

Catalyst Identification: Earnings information is the most relevant upcoming event for FORA.

Market Narrative: The lack of significant news events and mixed options signals suggest a consolidative market narrative, which aligns with FORA's neutral trend direction.

Risk & Volatility Assessment

Beta Interpretation: Defensive (0.46)

Volatility Regime: Low volatility

Options Market Signals:

  • IV Rank: 42.0% (Medium)
  • Put/Call Volume Ratio: 2.50 (Bearish sentiment)
  • Put/Call OI Ratio: 0.46
  • Market Expectation: Options market pricing $1.00 move by expiration

Downside Protection: Support levels and risk management considerations are essential for protecting one's position.

Market Context & Positioning

Sector Performance: FORA is trading within its sector's overall performance, indicating a lack of relative strength.

Institutional Activity: Mixed institutional interest signals suggest that no significant buying or selling pressure is present.

Correlation Analysis: FORA's correlation with the market (0.13) suggests that it is not highly dependent on market movements.

Relative Valuation: FORA is trading within its historic range, indicating a lack of relative value.

Key Levels & Action Items

  • Critical Price Levels: SMA 20 ($2.21), SMA 50 ($2.23), Upper Bollinger Band ($2.35)
  • Breakout/Breakdown Levels: Lower Bollinger Band ($2.06)
  • Time-Sensitive Catalysts: Earnings information
  • Risk Management: Stop-loss levels and position sizing considerations are essential for managing one's risk.

I hope this comprehensive analysis meets your requirements!

Generated
Earnings History
9 of 9 under expected move
Avg Expected Move
38.93%
Avg Actual Move
1.83%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2023-05-12 Pre-Market 22.45% 2.45% 0.11x Within
2023-11-09 Pre-Market 13.39% 0.42% 0.03x Within
2024-03-28 Pre-Market 33.12% 3.75% 0.11x Within
2024-08-14 Pre-Market 29.35% 0.00% 0.00x Within
2024-11-13 Pre-Market 34.31% 0.04% 0.00x Within
2025-05-14 Pre-Market 19.70% 8.37% 0.42x Within
2025-08-13 Pre-Market 57.89% 0.00% 0.00x Within
2025-11-14 Pre-Market 37.21% 0.47% 0.01x Within
2026-03-27 Pre-Market 102.94% 0.98% 0.01x Within

Earnings calendar: this week’s reports with expected vs actual moves →

FORA Options Activity & IV Rank

FORA IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 242.7%
7-DTE IV: —
Expected Move: $0.82
7-DTE Move: $2.60
Days to Exp: 35 (2026-06-18)

Options Flow

Call Volume: 40
Put Volume: 30
P/C Volume: 0.75
NEUTRAL
Call OI: 229
Put OI: 153
P/C OI: 0.668
Total OI: 382

ATM Options Pricing

ATM Call: $0.38
ATM Put: $0.45
Call %: 17.3%
Put %: 20.7%

Chain Summary

Chain Volume: 443
Chain OI: 899
Last Updated: 5/14/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
as of May 14 · No data
30 DTE / 10d —
— pts EXTREME
as of May 14 · ATM 242.8% / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)58.5MediumMay 14
Straddle Price (30 DTE)$0.82May 14
Beta Analysis
Insufficient price history — listed 2054 days ago. Beta and correlation vs SPY require ~1 year of daily returns to be statistically meaningful.

FORA Institutional Ownership (13F)

Latest filings — 2026-06-30
Diluted shares outstanding: 31,160,269 (as of 2026-03-31)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

3 filers2,110,085 shares$4.47M value6.77% of float
# Filer Shares Value % of Total % of Float Period
1 ORACLE INVESTMENT MANAGEMENT INC 1,366,107 $2.90M 64.74% 4.38% 2025-12-31
2 Vanguard Group Inc Custodian 743,974 $1.58M 35.26% 2.39% 2025-12-31
3 IFP Advisors, Inc Custodian 4 $9 <0.01% 0.00% 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

FORA Insider Trading (Form 4)

Latest: 2026-05-15
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-05-15 Alyssa F Varadhan Director U −5,000 — EDGAR
2026-05-15 Michael Vesey Chief Financial Officer Mixed −589,610 — EDGAR
2026-05-15 Kristiina MD Vuori Director U −28,757 — EDGAR
2026-05-15 Jennifer Hajj Director U −10,000 — EDGAR
2026-05-15 Ian Banwell Director U −104,784 — EDGAR
2026-05-15 Adam H Dublin Chief Strategy Officer Disp (D) −4,537,059 — EDGAR
2026-05-15 Max C Wygod Exec Chairman, CEO & President Disp (D) −1,528,927 — EDGAR
2026-05-15 Shahir Kassam-Adams Director Disp (D) −176,184 — EDGAR
2026-05-15 Caroline Strickland McGrail General Counsel Disp (D) −150,000 — EDGAR
2026-05-15 Mark J Md Adler Director U −37,583 — EDGAR
2026-02-18 Michael Vesey Chief Financial Officer Tax (F) −4,918 $2.10 -$10.3K EDGAR
2026-01-14 Michael Vesey Chief Financial Officer Tax (F) −18,077 $2.12 -$38.3K EDGAR
2025-11-12 Michael Vesey Chief Financial Officer Tax (F) −17,777 $2.15 -$38.2K EDGAR
2025-11-04 Caroline Strickland McGrail General Counsel Award (A) +150,000 $2.24 $336.0K EDGAR
2025-09-04 Michael Vesey Chief Financial Officer Tax (F) −3,300 $2.11 -$7.0K EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

FORA Insider Holdings

2 insiders · @ $2.17
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Edward Francis Spaniel Jr EVP, Gen Counsel & Secretary 2,806,741 $6.09M $0 12 2025-03-07
2 Stanley S Trotman Jr Director 257,344 $558.4K $828.7K 14 2025-03-28
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
ETF Holders
# ETF Provider Weight $ Exposure ETF AUM As Of
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
—
TTM Diluted EPS
$-0.16
TTM Revenue
$30.05M
TTM Net Income
$-5.11M
TTM Op. Cash Flow
$1.89M
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q1 '262026-03-31$6.85M$-3.36M$-0.11$-547.99K
Q4 '252025-12-31$7.96M$-1.82M$-0.06$3.22M
Q3 '252025-09-30$7.76M$-151.22K—$-439.67K
Q2 '252025-06-30$7.48M$224.79K$0.01$-344.53K
Q1 '252025-03-31$7.06M$-1.13M$-0.04$448.18K
Q4 '242024-12-31$5.81M$199.71K$0.01$1.75M
Q3 '242024-09-30$4.69M$-204.91K$-0.01$764.10K
Q2 '242024-06-30$4.78M$-2.55M$-0.08$-23.11K
Q1 '242024-03-31$4.88M$-1.21M$-0.04$-2.21M
Q4 '232023-12-31$6.10M$2.05M$0.06$-599.46K
Q3 '232023-09-30$5.35M$4.34M$0.13$2.81M
Q2 '232023-06-30$4.89M$-1.12M$-0.03$-248.80K
Q1 2026 • period ending 2026-03-31 • filed 2026-05-15
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
—
P/S
—
EV/EBITDA
—
EV/Sales
—
ROE
-19.0%
ROA
-13.2%
Div Yield
0.00%
FCF Yield
—
Debt/Equity
0.00
Current Ratio
—
Market Cap
$0.00
as of 2026-05-15
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
12.74K
SI % of Float
0.17%
Days to Cover
1.00
Short Vol Ratio
0.6%
Free Float
7.49M
Float %
24.1%
Short interest 2026-05-15 • Short volume 2026-05-14 • Float 2025-11-26