BenzingaT3·5mo ago
FRMM Forum Markets, Incorporated Common Stock
XNAS
3.30
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups 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.
FRMM
$3.30
—
Key stats
$3.30
- 52-Week Range
- $1.76 – $7.15
- YTD
- -4.62%
- Straddle Price
- $2.95
- P/C Vol Ratio
- 0.29
- Market Cap
- $0.0B
- Open
- $3.29
- Day Range
- $3.24 – $3.48
- Volume
- 17,868
- Prev Close
- $3.38
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.96% |
| Beta vs SPY | 2.54 |
| Cost of Equity (CAPM) | 18.92% (VRP-adj) |
| WACC | 18.91% |
| Volatility Risk Premium | +293.1pp (IV − HV30), ERP adj +50bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $-0.3B |
| Return on Equity (TTM) | -413.5% |
| Book / Price | 285.7% — banking bias active (P/B is primary) |
| Quality Score | 0/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $4.78 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $4.12 |
| Bollinger Width / SMA20 | 1421.2% (drives anchor stability) |
| Net Debt | $0.0B |
| Market Cap | $0B |
Peers used for multiples: ABTC, ASST, COIN, FWDI, MSTR
(filtered from 8 ETF-co-members; sector bias active)
Blended Fair Value
$14.29
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | |
| Peer EV/EBITDA | n/a | 0% | median 4.8× · 3 peers |
| Peer P/B | $16.32 | 75% | median 1.7× · 5 peers |
| Peer P/S | $8.22 | 25% | median 9.8× · 5 peers |
| Market Anchor (SMA50) | $4.78 | 0% | stability 0% (BB-width) |
| Options Expected (B-L 30d) | n/a | 0% |
As of 2026-10-27 · updated
Related
About
- Industry (SIC)
- FINANCE SERVICES (6199) · industry map
- Exchange
- XNAS
- Market Cap
- $0.0B
- Employees
- 2
- List Date
- 2017-06-27
- CIK
- 0001690080
- Next Earnings
- 2026-11-12 (Pre-Market)
- EPS Forecast
- ($0.12) (1 est.)
- Headquarters
- Palm Beach, FL
- Homepage
- https://www.forum-markets.com
Forum Markets Inc is a financial technology company focused on developing infrastructure that supports the origination, financing, and distribution of RWAs through blockchain-enabled capital markets. The company's business approach is centered on integrating traditional financial asset markets with blockchain-based infrastructure to enable the tokenization of income-generating real-world assets such as consumer credit, equipment finance assets, and other contractual cash-flow streams. It utilizes blockchain infrastructure, including Ethereum and related Layer-2 scaling protocols, to support th…
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
| Month | '26 | Avg |
|---|---|---|
| Jan | -- | -- |
| Feb | -- | -- |
| Mar | -16.47% | -16.47% |
| Apr | 94.66% | 94.66% |
| May | -24.27% | -24.27% |
| Jun | 18.82% | 18.82% |
| Jul | -8.99% | -8.99% |
| Aug | 8.00% | 8.00% |
| Sep | -10.61% | -10.61% |
| Oct | -29.00%* | -29.00% |
| Nov | -- | -- |
| Dec | -- | -- |
| Total | -8.73% | -8.73% |
* Only 1 year(s) of data available.
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: $4.04
SMA 50: $4.73
SMA 200: —
Current: $3.33
EMA 12: $3.64
EMA 26: $4.08
MACD: -0.4378 | Signal: -0.0457
BEARISH
ADX (14): 38.35
TREND
+DI: 17.26
−DI: 28.89
Momentum Oscillators
RSI (14): 28.87
OVERSOLD
Stoch %K: 16.58
Stoch %D: 17.57
Williams %R: -85.16
Volume & Volatility
BB Upper: $5.25
BB Lower: $2.84
NEUTRAL
OBV: 47,345,384
Vol SMA 20: 140,875
Vol ROC: -79.92%
ATR: $0.32
True Range: $0.23
HV 20: 62.2%
HV 30: 63.1%
HV 60: 69.9%
Data Summary
Data Points: 166
Last Updated:
Date Range: 2026-03-02T00:00:00 – 2026-10-26T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
BULLISH (Confidence Level: 7/10)
Key drivers:
- Technical momentum indicators suggest a bullish trend
- Recent news headlines highlight positive analyst coverage, which supports the stock's upward movement
- Risk metrics indicate high volatility, making this an exciting but also risky investment opportunity
Primary risks:
- High volatility can lead to sudden price drops
- Lack of earnings data may make it difficult to gauge fundamental performance
Investment thesis: FRMM is a speculative play with potential for short-term gains. Investors should carefully assess their risk tolerance before entering the market.
Recent news sentiment impact: The two recent positive analyst coverage headlines have contributed significantly to the stock's upward momentum, driving up investor sentiment and expectations.
Technical Analysis
Trend Direction: Short-term bullish, Medium-term neutral, Long-term bearish (due to lack of earnings data)
Support/Resistance Levels: Key price levels:
- Lower band: $4.62
- Middle band: $5.46
- Upper band: $6.29
- Recent high: $5.76
Momentum Signals:
- RSI interpretation: Neutral (55.45)
- MACD signal: Bullish (0.33 / Signal: 0.04 / Histogram: 0.29)
- Bollinger Bands position: Neutral (price touching middle band)
Volume Analysis: Volume trends and institutional interest signals:
- Volume SMA 20: 320531.35
- On-Balance Volume (OBV): 47755732.32
- Volume Rate of Change: -53.58%
News & Sentiment Analysis
Recent Headlines Summary: Positive analyst coverage from Clear Street and Benchmark
Sentiment Assessment: Positive sentiment, driven by recent news headlines
Catalyst Identification: Upcoming earnings date (TBD)
Market Narrative: The positive analyst coverage has created a bullish narrative around FRMM, which aligns with the technical momentum indicators.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to market (beta 2.61)
Volatility Regime: High volatility regime, indicated by historical volatility metrics and options activity
Options Market Signals:
- IV Rank: Low (19.4%)
- Put/Call Volume Ratio: Bullish (0.01)
- Put/Call OI Ratio: Bullish (0.01)
Market Context & Positioning
Sector Performance: FRMM is a speculative play, not directly tied to any specific sector or market
Institutional Activity: Mixed institutional interest signals from options activity
Correlation Analysis: FRMM has low correlation with the broader market (R-squared interpretation)
Relative Valuation: FRMM appears relatively undervalued within its trading range.
Key Levels & Action Items
Critical Price Levels: Lower band ($4.62), Middle band ($5.46), Upper band ($6.29)
Breakout/Breakdown Levels: Recent high ($5.76), key technical resistance level
Time-Sensitive Catalysts: Upcoming earnings date (TBD), potential catalyst for further price movement
Risk Management: Stop-loss levels and position sizing considerations should be carefully assessed before entering the market.
Please let me know if you'd like me to revise or expand on this analysis in any way.
Generated
News
All FRMM news →
BenzingaT3·6mo ago
FRMM Options Activity & IV Rank
Volatility Metrics
Current IV: —
7-DTE IV: —
Expected Move: $2.95
7-DTE Move: $2.95
Days to Exp: 24 (2026-11-20)
Options Flow
Call Volume: 34
Put Volume: 10
P/C Volume: 0.294
BULLISH
Call OI: 138
Put OI: 15
P/C OI: 0.109
Total OI: 153
ATM Options Pricing
ATM Call: $1.20
ATM Put: $1.75
Call %: 36.4%
Put %: 53.0%
Chain Summary
Chain Volume: 3,810
Chain OI: 88,998
Last Updated: 10/27/2026
Spread Scanner GPU
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.
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 19th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
19%
vs own history
GEX tilt
+0.69
OI-weighted, today
Vanna tilt
+0.19
δ-sensitivity to IV
Charm tilt
-0.47
δ-decay vs time
Charm tilt -0.47: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 4 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow 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 sideWhich 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 Oct 26 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 26 · ATM 269.1% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
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)
Straddle Price (30 DTE)$2.95Oct 27
Beta Analysis
Risk Metrics
Beta: 2.5219
Alpha: 28.30%
Correlation: 0.2416
R-Squared: 5.8%
Stock Volatility: 138.2%
Market Volatility: 13.2%
Analysis Details
Benchmark: SPY
Data Points: 166
Period: 252 trading days
Data Points: 166
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own FRMM
2 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $2.2M | #2797 of 6285 | +19.8% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $422K | #3240 of 3716 | +7.5% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
FRMM Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional 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.
8 filers$29.75M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $20.92M | 70.32% | 2026-06-30 |
| 2 | GROUP ONE TRADING LLC Custodian | $5.71M | 19.20% | 2026-06-30 |
| 3 | Simplex Trading, LLC Custodian | $2.19M | 7.36% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $375.76K | 1.26% | 2026-06-30 |
| 5 | IMC-Chicago, LLC Custodian | $319.83K | 1.07% | 2026-06-30 |
| 6 | Jane Street Group, LLC Custodian | $202.00K | 0.68% | 2026-06-30 |
| 7 | Belvedere Trading LLC | $20.47K | 0.07% | 2026-06-30 |
| 8 | HAP TRADING, LLC | $12.50K | 0.04% | 2025-09-30 |
5 filers$2.70M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Simplex Trading, LLC Custodian | $982.29K | 36.35% | 2026-06-30 |
| 2 | GROUP ONE TRADING LLC Custodian | $699.93K | 25.90% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $511.40K | 18.92% | 2026-06-30 |
| 4 | Susquehanna International Group, LLP Custodian | $442.55K | 16.38% | 2026-06-30 |
| 5 | Jane Street Group, LLC Custodian | $66.25K | 2.45% | 2026-06-30 |
FRMM Insider Trading (Form 4)
Latest: 2026-08-14Form 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 |
|---|---|---|---|---|---|---|---|
| 2026-08-14 | John Tazewell Saunders | Chief Financial Officer | Tax (F) | −16,151 | $5.16 | -$83.3K | EDGAR |
| 2026-08-14 | McAndrew Rudisill | Chief Executive Officer | Tax (F) | −98,174 | $5.16 | -$506.6K | EDGAR |
| 2026-07-23 | Konstantin Lomashuk | 10%+ Owner | Sell (S) | −250,000 | $6.00 | -$1.50M | EDGAR |
| 2026-07-20 | Konstantin Lomashuk | 10%+ Owner | Sell (S) | −2,562 | $6.30 | -$16.1K | EDGAR |
| 2026-07-14 | Konstantin Lomashuk | 10%+ Owner | Sell (S) | −3,387 | $6.15 | -$20.8K | EDGAR |
| 2026-07-09 | Konstantin Lomashuk | 10%+ Owner | Sell (S) | −4,802 | $6.35 | -$30.5K | EDGAR |
| 2026-04-06 | Angela Dalton | Director | Award (A) | +203,562 | — | EDGAR | |
| 2026-04-03 | Michael A Edwards | Director | Award (A) | +203,562 | — | EDGAR | |
| 2026-04-03 | Andrew P Suckling | Director | Award (A) | +241,918 | — | EDGAR | |
| 2026-04-03 | John Tazewell Saunders | Chief Financial Officer | Award (A) | +358,592 | — | EDGAR | |
| 2026-04-03 | Ryan Lewis Smith | Director | Award (A) | +241,918 | — | EDGAR | |
| 2026-04-03 | Jason Griffin New | Director | Award (A) | +241,918 | — | EDGAR | |
| 2026-04-03 | Crystal Jane Heter | Director | Award (A) | +241,918 | — | EDGAR | |
| 2026-04-03 | McAndrew Rudisill | Chief Executive Officer | Award (A) | +1,884,979 | — | 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.
FRMM Insider Holdings
9 insiders · @ $3.33
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 | McAndrew Rudisill | Chief Executive Officer | 1,832,088 | $6.10M | $0 | 2 | 2026-08-14 |
| 2 | Konstantin Lomashuk | 10%+ Owner | 1,226,638 | $4.08M | -$1.57M | 4 | 2026-07-23 |
| 3 | John Tazewell Saunders | Chief Financial Officer | 342,441 | $1.14M | $0 | 2 | 2026-08-14 |
| 4 | Jason Griffin New | Director | 298,521 | $994.1K | $0 | 1 | 2026-04-03 |
| 5 | Ryan Lewis Smith | Director | 241,918 | $805.6K | $0 | 1 | 2026-04-03 |
| 6 | Andrew P Suckling | Director | 241,918 | $805.6K | $0 | 1 | 2026-04-03 |
| 7 | Crystal Jane Heter | Director | 241,918 | $805.6K | $0 | 1 | 2026-04-03 |
| 8 | Angela Dalton | Director | 203,562 | $677.9K | $0 | 1 | 2026-04-06 |
| 9 | Michael A Edwards | Director | 203,562 | $677.9K | $0 | 1 | 2026-04-03 |
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.
FRMM Board & Officers
As of SEC filings through Aug 14, 2026Directors 7
- Ryan Lewis Smith · since Mar 7, 2024
- Stephen H Shoemaker · since Dec 3, 2024
- Andrew P Suckling · since Aug 4, 2025
- McAndrew Rudisill · since Aug 4, 2025
- Jason Griffin New · since Oct 7, 2025
- Angela Dalton · since Dec 19, 2025
- Michael A Edwards · since Dec 19, 2025
Officers 2
- McAndrew Rudisill · Chief Executive Officer · listed since Nov 2025
- John Tazewell Saunders · Chief Financial Officer · since Nov 15, 2025
10% owners 1
- Brian James Pemble · since Jun 29, 2026
Changes in the last 10 years (82)
| Aug 19, 2026 | The company announced the departure of Crystal Jane Heter from the board in an SEC filing |
| Jul 23, 2026 | Konstantin Lomashuk reported in an SEC filing no longer being a 10% owner |
| Jun 29, 2026 | Brian James Pemble became a 10% owner |
| Apr 28, 2026 | Konstantin Lomashuk became a 10% owner |
| Dec 19, 2025 | Michael A Edwards became a director |
| Dec 19, 2025 | Angela Dalton became a director |
| Nov 17, 2025 | McAndrew Rudisill first listed as Chief Executive Officer in an SEC filing |
| Nov 15, 2025 | John Tazewell Saunders became Chief Financial Officer |
| Nov 12, 2025 | The company announced the departure of Eric R Van Lent as Chief Accounting Officer in an SEC filing |
| Oct 7, 2025 | Jason Griffin New became a director |
| Sep 2, 2025 | The company announced the departure of Blair Jordan as Chief Executive Officer in an SEC filing |
| Aug 18, 2025 | Elray Resources, Inc. reported in an SEC filing no longer being a 10% owner |
| Aug 11, 2025 | Blair Jordan no longer listed as a 10% owner in SEC filings |
| Aug 4, 2025 | McAndrew Rudisill became a director |
| Aug 4, 2025 | Crystal Jane Heter became a director |
| Aug 4, 2025 | Andrew P Suckling became a director |
| Apr 30, 2025 | Blair Jordan first listed as a 10% owner in an SEC filing |
| Feb 15, 2025 | Eric R Van Lent became Chief Accounting Officer |
| Feb 7, 2025 | Blair Jordan first listed as Chief Executive Officer in an SEC filing |
| Dec 27, 2024 | Elray Resources, Inc. became a 10% owner |
| Dec 3, 2024 | Stephen H Shoemaker became a director |
| Dec 2, 2024 | The company announced the departure of Omar Jimenez from the board in an SEC filing |
| Oct 24, 2024 | The company announced the departure of Blair Jordan from the board in an SEC filing |
| Oct 24, 2024 | Jay Lawrence Goodman became a director |
| Sep 10, 2024 | The company announced the departure of Ozan Pamir as CFO in an SEC filing |
| May 7, 2024 | The company announced the departure of Lawrence Steinman from the board in an SEC filing |
| May 7, 2024 | The company announced the departure of Jonathan B. Rothbard as Chief Scientific Officer in an SEC filing |
| May 7, 2024 | The company announced the departure of James N. Woody from the board in an SEC filing |
| May 7, 2024 | The company announced the departure of James N. Woody as Chief Executive Officer in an SEC filing |
| Mar 7, 2024 | Ryan Lewis Smith became a director |
| Mar 7, 2024 | Omar Jimenez became a director |
| Feb 28, 2024 | Blair Jordan became a director |
| Dec 17, 2023 | The company announced the departure of Teresa DeLuca from the board in an SEC filing |
| Dec 17, 2023 | The company announced the departure of Russell T Ray from the board in an SEC filing |
| Dec 17, 2023 | The company announced the departure of Pamela G Marrone from the board in an SEC filing |
| Dec 17, 2023 | The company announced the departure of Lawrence Marshall Gold from the board in an SEC filing |
| Dec 17, 2023 | The company announced the departure of Jr. Donald A. McGovern from the board in an SEC filing |
| May 19, 2023 | Ozan Pamir listed as CFO (previously Interim CFO) in SEC filings |
| Mar 7, 2023 | The company announced the departure of Marc Feldmann from the board in an SEC filing |
| Jan 18, 2023 | The company announced the departure of Quan Anh Vu as COO / Chief Business Officer in an SEC filing |
| Oct 29, 2021 | Quan Anh Vu became COO / Chief Business Officer |
| Jul 9, 2021 | Teresa DeLuca became a director |
| Jul 9, 2021 | Russell T Ray became a director |
| Jul 2, 2021 | Pamela G Marrone became a director |
| Jul 2, 2021 | Knuettel Francis II became a director |
| Apr 9, 2021 | Marc Feldmann no longer listed as a 10% owner in SEC filings |
| Nov 27, 2020 | Ozan Pamir became Interim CFO |
| Nov 10, 2020 | Marlene Krauss no longer listed as a director in SEC filings |
| Nov 10, 2020 | Marlene Krauss no longer listed as Chief Executive Officer in SEC filings |
| Nov 6, 2020 | Shoshana Shendelman became a director |
| Nov 6, 2020 | Richard W Barker became a director |
| Nov 6, 2020 | Marc Feldmann became a director |
| Nov 6, 2020 | Marc Feldmann became a 10% owner |
| Nov 6, 2020 | Lawrence Steinman became a director |
| Nov 6, 2020 | Lawrence Marshall Gold became a director |
| Nov 6, 2020 | Jr. Donald A. McGovern became a director |
| Nov 6, 2020 | Jonathan B. Rothbard became Chief Scientific Officer |
| Nov 6, 2020 | James N. Woody became a director |
| Nov 6, 2020 | James N. Woody became Chief Executive Officer |
| Oct 10, 2019 | Oxford Asset Management Llp reported in an SEC filing no longer being a 10% owner |
| Aug 20, 2019 | Mizuho Securities USA LLC reported in an SEC filing no longer being a 10% owner |
| Aug 12, 2019 | Mizuho Securities USA LLC became a 10% owner |
| Jun 7, 2019 | Weiss Asset Management LP reported in an SEC filing no longer being a 10% owner |
| Jun 7, 2019 | Wam Gp LLC reported in an SEC filing no longer being a 10% owner |
| Jun 7, 2019 | Andrew M Weiss reported in an SEC filing no longer being a 10% owner |
| Mar 29, 2019 | Oxford Asset Management Llp became a 10% owner |
| Mar 8, 2019 | Polar Asset Management Partners Inc. reported in an SEC filing no longer being a 10% owner |
| Mar 5, 2019 | Weiss Asset Management LP became a 10% owner |
| Mar 5, 2019 | Wam Gp LLC became a 10% owner |
| Mar 5, 2019 | Andrew M Weiss became a 10% owner |
| Nov 8, 2017 | Polar Asset Management Partners Inc. first listed as a 10% owner in an SEC filing |
| Jun 29, 2017 | Polar Asset Management Partners Inc. reported in an SEC filing no longer being a 10% owner |
| Jun 7, 2017 | Polar Asset Management Partners Inc. became a 10% owner |
| Jun 1, 2017 | P Sherrill Neff became a director |
| Jun 1, 2017 | Marlene Krauss became a director |
| Jun 1, 2017 | Marlene Krauss became a 10% owner |
| Jun 1, 2017 | Marlene Krauss became Chief Executive Officer |
| Jun 1, 2017 | Kbl IV Sponsor LLC became a 10% owner |
| Jun 1, 2017 | Joseph Williamson became a director |
| Jun 1, 2017 | Joseph Williamson became Chief Operating Officer |
| Jun 1, 2017 | George R Hornig became a director |
| Jun 1, 2017 | Andrew Sherman became a director |
Not reported recently (10)
- Jay Lawrence Goodman · Last reported as a director in an SEC filing dated Feb 21, 2025
- Knuettel Francis II · Last reported as a director in an SEC filing dated Sep 8, 2023
- Marlene Krauss · Last reported as a 10% owner in an SEC filing dated Dec 17, 2020
- Kbl IV Sponsor LLC · Last reported as a 10% owner in an SEC filing dated Dec 17, 2020
- Richard W Barker · Last reported as a director in an SEC filing dated Dec 7, 2020
- Shoshana Shendelman · Last reported as a director in an SEC filing dated Nov 13, 2020
- Andrew Sherman · Last reported as a director in an SEC filing dated Jun 1, 2017
- Joseph Williamson · Last reported as a director in an SEC filing dated Jun 1, 2017
- P Sherrill Neff · Last reported as a director in an SEC filing dated Jun 1, 2017
- George R Hornig · Last reported as a director in an SEC filing dated Jun 1, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
FRMM Proposed Insider Sales (Form 144)
Latest: 2025-11-20
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
0 filings
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2025-11-20 | Shoemaker Stephen H | Former Director | 5,000 | $52.6K | 2025-11-20 | Oppenheimer & Co Inc | — | EDGAR |
| 2025-11-14 | Shoemaker Stephen H | Director | 1,000 | $14.9K | 2025-11-14 | Oppenheimer & Co Inc | — | EDGAR |
| 2025-10-06 | Blair Jordan Strategy and Finance Consulting, Inc. | Former officer and director | 339,646 | $805.0K | 2025-10-01 | Leede Financial Inc. | — | EDGAR |
| 2025-08-14 | STEINMAN LAWRENCE | Director | 189,959 | $1.36M | 2025-08-14 | Oppenheimer & Co, Inc | — | EDGAR |
| 2025-08-07 | ELRAY RESOURCES, INC. | 10% Stockholder | 1,320,000 | $4.70M | 2025-08-07 | Oppenheimer & Co, Inc | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
5 ETFs hold FRMM
5 shown · $1.61M total exposure · 0.01% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.00% | $715,878 | — | 2026-09-30 |
| 2 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.00% | $398,855 | — | 2026-05-31 |
| 3 | VXF Vanguard Extended Market ETF | Vanguard | 0.00% | $286,542 | — | 2026-09-30 |
| 4 | SATO Invesco Alerian Galaxy Crypto Economy ETF | Invesco | 1.59% | $108,782 | — | 2026-10-25 |
| 5 | IWC iShares Micro-Cap ETF | iShares (BlackRock) | 0.01% | $99,896 | $1.2B | 2026-10-23 |
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
—
TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
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
0.35
P/S
4.14
EV/EBITDA
-0.27
EV/Sales
6.17
ROE
-413.5%
ROA
-332.3%
Div Yield
0.00%
FCF Yield
-742.05%
Debt/Equity
0.20
Current Ratio
2.88
Market Cap
$44.61M
as of 2026-10-23
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
2.29M
SI % of Float
34.58%
Days to Cover
18.01
Short Vol Ratio
51.7%
Free Float
6.62M
Float %
49.4%
Short interest 2026-09-30 • Short volume 2026-10-26 • Float 2026-08-16