Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Update

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,640,000 shares, a decline of 5.5% from the October 15th total of 3,850,000 shares. Based on an average daily volume of 374,400 shares, the days-to-cover ratio is presently 9.7 days. Approximately 2.7% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, CRO Jennifer Phillips sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $1.28, for a total value of $64,000.00. Following the completion of the sale, the executive now owns 968,497 shares of the company’s stock, valued at approximately $1,239,676.16. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kelly Rodriques sold 18,405 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $1.36, for a total value of $25,030.80. Following the completion of the transaction, the chief executive officer now directly owns 8,600,995 shares of the company’s stock, valued at approximately $11,697,353.20. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 368,363 shares of company stock valued at $445,736 over the last ninety days. 9.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Interval Partners LP bought a new stake in shares of Forge Global during the second quarter worth about $373,000. Squarepoint Ops LLC grew its holdings in shares of Forge Global by 1,068.2% during the second quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock worth $240,000 after purchasing an additional 150,376 shares during the last quarter. Barclays PLC grew its holdings in shares of Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company’s stock worth $197,000 after purchasing an additional 110,549 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Forge Global by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock worth $10,691,000 after purchasing an additional 93,139 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Forge Global by 64.4% during the second quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after purchasing an additional 86,959 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Trading Up 14.6 %

Shares of NYSE FRGE opened at $0.95 on Wednesday. The company has a market cap of $175.21 million, a price-to-earnings ratio of -2.20 and a beta of 2.39. Forge Global has a 12 month low of $0.80 and a 12 month high of $4.02. The stock has a 50-day moving average price of $1.23 and a two-hundred day moving average price of $1.41.

Forge Global (NYSE:FRGE) last issued its earnings results on Wednesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $19.22 million for the quarter, compared to analyst estimates of $22.80 million. Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. On average, sell-side analysts predict that Forge Global will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

Separately, UBS Group raised Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Tuesday, September 3rd.

Forge Global Company Profile

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.