Forge Global (NYSE:FRGE) Earns “Underweight” Rating from JPMorgan Chase & Co.

Forge Global (NYSE:FRGE)‘s stock had its “underweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Marketbeat reports.

Forge Global Trading Down 7.8 %

Shares of FRGE stock opened at $0.77 on Tuesday. The company has a market capitalization of $141.53 million, a P/E ratio of -1.78 and a beta of 2.33. Forge Global has a 12-month low of $0.76 and a 12-month high of $3.56. The business’s 50 day moving average is $1.00 and its two-hundred day moving average is $1.23.

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

Insider Activity at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 25,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $1.14, for a total value of $28,500.00. Following the completion of the sale, the executive now owns 854,581 shares in the company, valued at approximately $974,222.34. This represents a 2.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kelly Rodriques sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $1.33, for a total value of $66,500.00. Following the transaction, the chief executive officer now owns 8,476,028 shares in the company, valued at approximately $11,273,117.24. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,181 shares of company stock valued at $397,631. 9.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Forge Global

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Forge Global in the 3rd quarter worth $32,000. Norden Group LLC purchased a new position in Forge Global during the second quarter worth about $53,000. The Manufacturers Life Insurance Company grew its stake in shares of Forge Global by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after buying an additional 9,406 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Forge Global by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after buying an additional 14,800 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Forge Global during the 3rd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

About Forge Global

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.