Forge Global (NYSE:FRGE) Sets New 12-Month High – Time to Buy?

Forge Global Holdings, Inc. (NYSE:FRGE) shares hit a new 52-week high during trading on Friday . The company traded as high as $44.99 and last traded at $44.9850, with a volume of 370 shares traded. The stock had previously closed at $44.81.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FRGE. Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a report on Friday, December 12th. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group downgraded shares of Forge Global from a “buy” rating to a “neutral” rating and upped their target price for the company from $34.00 to $45.00 in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a report on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Forge Global has an average rating of “Reduce” and a consensus target price of $42.00.

Forge Global Stock Performance

The company’s fifty day simple moving average is $44.63 and its two-hundred day simple moving average is $33.06. The company has a market capitalization of $623.18 million, a price-to-earnings ratio of -8.65 and a beta of 2.18.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in shares of Forge Global in the 4th quarter worth approximately $312,000. Alberta Investment Management Corp acquired a new position in Forge Global in the fourth quarter worth $470,000. Water Island Capital LLC bought a new stake in Forge Global during the fourth quarter valued at $8,782,000. Toronto Dominion Bank bought a new stake in Forge Global during the fourth quarter valued at $2,669,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Forge Global during the fourth quarter worth $3,720,000. Institutional investors own 40.67% of the company’s stock.

About Forge Global

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.