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

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

Analyst Upgrades and Downgrades

Separately, UBS Group upgraded shares of Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Tuesday, September 3rd.

Forge Global Stock Performance

NYSE FRGE opened at $0.83 on Tuesday. Forge Global has a twelve month low of $0.80 and a twelve month high of $4.02. The stock has a fifty day simple moving average of $1.24 and a 200 day simple moving average of $1.42.

Forge Global (NYSE:FRGE) last issued its quarterly earnings data 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 for 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%. Research analysts predict that Forge Global will post -0.37 EPS for the current year.

Insider Transactions at Forge Global

In related news, CRO Jennifer Phillips sold 25,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $1.14, for a total transaction of $28,500.00. Following the sale, the executive now owns 829,581 shares in the company, valued at $945,722.34. The trade was a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kelly Rodriques sold 18,405 shares of the 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 owns 8,600,995 shares of the company’s stock, valued at $11,697,353.20. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,363 shares of company stock valued at $403,236. 9.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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 buying an additional 93,139 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $3,433,000 after acquiring an additional 18,913 shares during the period. State Street Corp raised its position in shares of 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 acquiring an additional 25,833 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Forge Global by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after purchasing an additional 36,913 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Forge Global by 23.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company’s stock valued at $545,000 after purchasing an additional 70,058 shares in the last quarter. 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.