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

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

Analysts Set New Price Targets

Separately, UBS Group raised 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 Price Performance

Shares of NYSE:FRGE opened at $1.03 on Tuesday. Forge Global has a one year low of $0.80 and a one year high of $4.02. The company’s fifty day moving average price is $1.12 and its 200-day moving average price is $1.31. The firm has a market capitalization of $190.56 million, a price-to-earnings ratio of -2.40 and a beta of 2.30.

Forge Global (NYSE:FRGE) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $22.80 million. As a group, equities research analysts expect that Forge Global will post -0.37 EPS for the current year.

Insider Transactions at Forge Global

In other news, CEO Kelly Rodriques sold 31,735 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $1.02, for a total transaction of $32,369.70. Following the completion of the sale, the chief executive officer now owns 8,354,377 shares of the company’s stock, valued at $8,521,464.54. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Jennifer Phillips sold 50,000 shares of Forge Global stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $1.28, for a total transaction of $64,000.00. Following the completion of the sale, the executive now owns 968,497 shares of the company’s stock, valued at $1,239,676.16. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,781 shares of company stock valued at $370,231. 9.84% of the stock is currently owned by company insiders.

Institutional Trading of Forge Global

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company’s stock valued at $197,000 after buying an additional 110,549 shares during the last quarter. Geode Capital Management LLC raised its stake in Forge Global by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock valued at $3,433,000 after purchasing an additional 18,913 shares during the period. State Street Corp lifted its holdings in Forge Global by 1.2% in the 3rd quarter. State Street Corp now owns 2,263,898 shares of the company’s stock worth $2,966,000 after purchasing an additional 25,833 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Forge Global by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock worth $1,265,000 after purchasing an additional 36,913 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Forge Global during the 3rd quarter valued at approximately $96,000. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

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.