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

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a significant increase in short interest in 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. Based on an average daily volume of 496,400 shares, the short-interest ratio is presently 6.4 days. Approximately 2.3% of the shares of the stock are short sold.

Forge Global Trading Down 4.7 %

NYSE FRGE traded down $0.05 during midday trading on Tuesday, hitting $0.98. The company had a trading volume of 249,796 shares, compared to its average volume of 552,379. Forge Global has a twelve month low of $0.80 and a twelve month high of $4.02. The company has a market capitalization of $181.57 million, a PE ratio of -2.40 and a beta of 2.30. The firm has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.31.

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). Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. The company had revenue of $19.22 million during the quarter, compared to analyst estimates of $22.80 million. On average, equities analysts anticipate that Forge Global will post -0.37 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Jennifer Phillips sold 38,916 shares of Forge Global stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $1.21, for a total transaction of $47,088.36. Following the completion of the sale, the executive now owns 879,581 shares in the company, valued at $1,064,293.01. The trade was a 4.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $1.33, for a total value of $66,500.00. Following the completion of the transaction, the chief executive officer now directly owns 8,476,028 shares in the company, valued at approximately $11,273,117.24. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,781 shares of company stock worth $370,231 over the last quarter. Company insiders own 9.84% of the company’s stock.

Institutional Investors Weigh In On Forge Global

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Forge Global during the third quarter worth approximately $32,000. Norden Group LLC bought a new position in Forge Global in the 2nd quarter worth about $53,000. Miracle Mile Advisors LLC grew its stake 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 acquiring an additional 25,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Forge Global by 29.4% during the 1st 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. Finally, The Manufacturers Life Insurance Company raised 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 valued at $72,000 after acquiring an additional 9,406 shares in the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 price objective on the stock in a report 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.