Forge Global Holdings, Inc. (NYSE:FRGE) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have received a consensus rating of “Reduce” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.00.

Several research analysts recently weighed in on the stock. Citigroup cut shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. UBS Group cut shares of Forge Global from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $45.00 in a research note on Tuesday, November 11th. Piper Sandler lowered shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Thursday, November 6th. Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th.

Forge Global Stock Up 0.4%

Shares of NYSE FRGE opened at $45.01 on Monday. The stock’s 50-day simple moving average is $44.64 and its two-hundred day simple moving average is $33.38. Forge Global has a twelve month low of $6.60 and a twelve month high of $45.03. The firm has a market capitalization of $623.32 million, a P/E ratio of -8.66 and a beta of 2.18.

Hedge Funds Weigh In On Forge Global

Several institutional investors have recently modified their holdings of the company. Meteora Capital LLC bought a new stake in Forge Global in the 4th quarter worth approximately $46,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Forge Global during the fourth quarter worth approximately $76,000. BNP Paribas Financial Markets lifted its holdings in shares of Forge Global by 303.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock worth $36,000 after acquiring an additional 1,613 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of Forge Global in the 4th quarter valued at $102,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Forge Global during the 2nd quarter valued at $47,000. 40.67% of the stock is currently owned by institutional investors.

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.