Investors Buy Large Volume of Forum Merger III Put Options (NASDAQ:FIII)

Forum Merger III Co. (NASDAQ:FIII) saw some unusual options trading on Wednesday. Investors bought 1,678 put options on the company. This represents an increase of approximately 1,143% compared to the average daily volume of 135 put options.

FIII has been the subject of a number of recent analyst reports. Benchmark initiated coverage on Forum Merger III in a report on Friday, March 19th. They set a “buy” rating and a $23.00 target price for the company. Colliers Securities initiated coverage on Forum Merger III in a research note on Friday, March 19th. They issued a “buy” rating and a $13.00 price target on the stock.

Hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. purchased a new stake in Forum Merger III in the fourth quarter worth $50,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Forum Merger III in the first quarter worth $60,000. Wells Fargo & Company MN purchased a new stake in shares of Forum Merger III in the fourth quarter worth $73,000. Mcdonald Partners LLC purchased a new stake in shares of Forum Merger III in the first quarter worth $100,000. Finally, GWM Advisors LLC purchased a new stake in shares of Forum Merger III in the first quarter worth $100,000. 30.56% of the stock is currently owned by institutional investors.

Shares of FIII stock opened at $10.06 on Friday. The business has a fifty day moving average price of $9.95. Forum Merger III has a twelve month low of $9.67 and a twelve month high of $15.30.

About Forum Merger III

Forum Merger III Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in Delray Beach, Florida.

Featured Article: What does RSI mean?

Receive News & Ratings for Forum Merger III Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forum Merger III and related companies with MarketBeat.com's FREE daily email newsletter.