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

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 3,180,000 shares, an increase of 8.9% from the November 15th total of 2,920,000 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average trading volume of 496,400 shares, the days-to-cover ratio is currently 6.4 days.

Forge Global Stock Performance

Shares of Forge Global stock traded down $0.05 on Tuesday, hitting $0.98. 249,796 shares of the company’s stock were exchanged, compared to its average volume of 552,379. The company has a 50-day simple moving average of $1.12 and a 200-day simple moving average of $1.31. Forge Global has a 1 year low of $0.80 and a 1 year high of $4.02. The stock has a market capitalization of $181.57 million, a PE ratio of -2.40 and a beta of 2.30.

Forge Global (NYSE:FRGE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $19.22 million during the quarter, compared to the consensus estimate 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, analysts expect that Forge Global will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Forge Global

In other Forge Global news, CEO Kelly Rodriques sold 50,000 shares of the company’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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jennifer Phillips sold 25,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.14, for a total transaction of $28,500.00. Following the completion of the transaction, the executive now owns 854,581 shares of the company’s stock, valued at approximately $974,222.34. The trade was a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,781 shares of company stock worth $370,231. 9.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Forge Global

A number of hedge funds have recently made changes to their positions in FRGE. SG Americas Securities LLC purchased a new position in Forge Global during the 3rd quarter valued at approximately $32,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Forge Global by 29.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock valued at $66,000 after purchasing an additional 7,663 shares in the last quarter. Norden Group LLC purchased a new stake in Forge Global during the second quarter valued at $53,000. Miracle Mile Advisors LLC lifted its position in Forge Global by 166.7% during the second quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company’s stock valued at $58,000 after purchasing an additional 25,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings 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 worth $72,000 after buying an additional 9,406 shares during the last quarter. Institutional investors own 40.67% of the company’s stock.

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.