Forge Global Holdings, Inc. (NYSE:FRGE) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $36.00.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd.

Forge Global Stock Performance

Forge Global stock opened at $45.00 on Tuesday. The stock has a market cap of $623.03 million, a PE ratio of -8.65 and a beta of 2.18. Forge Global has a one year low of $6.60 and a one year high of $45.03. The stock has a fifty day moving average of $44.91 and a 200 day moving average of $40.24.

Institutional Trading of Forge Global

A number of hedge funds have recently bought and sold shares of FRGE. Caitong International Asset Management Co. Ltd purchased a new stake in Forge Global during the fourth quarter valued at $34,000. BNP Paribas Financial Markets increased its position in Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after acquiring an additional 1,613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock valued at $39,000 after acquiring an additional 2,964 shares during the last quarter. Meteora Capital LLC purchased a new stake in Forge Global during the fourth quarter valued at $46,000. Finally, CWM LLC grew its holdings in Forge Global by 27.8% during the third quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after purchasing an additional 960 shares during the period. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Company Profile

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.