Forge Global’s (FRGE) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

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

Forge Global Price Performance

FRGE opened at $0.88 on Tuesday. The stock’s 50 day simple moving average is $1.01 and its 200 day simple moving average is $1.24. The stock has a market cap of $162.81 million, a P/E ratio of -2.05 and a beta of 2.33. Forge Global has a 1-year low of $0.80 and a 1-year high of $3.56.

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

Insiders Place Their Bets

In related news, CEO Kelly Rodriques sold 31,735 shares of Forge Global stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $1.02, for a total transaction of $32,369.70. Following the completion of the transaction, the chief executive officer now directly owns 8,354,377 shares in the company, valued at $8,521,464.54. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jennifer Phillips sold 50,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $1.07, for a total value of $53,500.00. Following the sale, the executive now owns 744,018 shares in the company, valued at approximately $796,099.26. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,181 shares of company stock worth $397,631. Insiders own 9.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Interval Partners LP purchased a new stake in shares of Forge Global during the second quarter worth about $373,000. Squarepoint Ops LLC raised its holdings in Forge Global by 1,068.2% in the 2nd quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock valued at $240,000 after acquiring an additional 150,376 shares during the last quarter. Barclays PLC lifted its stake in shares of Forge Global by 278.5% during the 3rd quarter. Barclays PLC now owns 150,241 shares of the company’s stock worth $197,000 after purchasing an additional 110,549 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Forge Global by 64.4% during the second quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after purchasing an additional 86,959 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Forge Global in the third quarter valued at $96,000. Institutional investors and hedge funds 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.