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

Forge Global Holdings, Inc. (NYSE:FRGE) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 765,982 shares, an increase of 33.5% from the January 29th total of 573,763 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 214,200 shares, the short-interest ratio is presently 3.6 days. Based on an average daily volume of 214,200 shares, the short-interest ratio is presently 3.6 days. Approximately 5.8% of the shares of the company are sold short.

Forge Global Stock Performance

FRGE stock traded up $0.18 during trading on Monday, hitting $44.99. 631,331 shares of the company’s stock traded hands, compared to its average volume of 265,085. Forge Global has a 52 week low of $6.60 and a 52 week high of $45.03. The business has a fifty day simple moving average of $44.65 and a 200 day simple moving average of $33.55. The stock has a market capitalization of $623.11 million, a price-to-earnings ratio of -8.65 and a beta of 2.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Forge Global by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 433,969 shares of the company’s stock valued at $7,334,000 after acquiring an additional 23,952 shares during the period. First Trust Capital Management L.P. purchased a new stake in shares of Forge Global in the 4th quarter worth approximately $13,716,000. FIL Ltd bought a new stake in Forge Global during the 4th quarter valued at $13,368,000. AWM Investment Company Inc. boosted its position in Forge Global by 28.0% during the fourth quarter. AWM Investment Company Inc. now owns 264,179 shares of the company’s stock valued at $11,772,000 after purchasing an additional 57,787 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Forge Global by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 230,891 shares of the company’s stock worth $10,291,000 after purchasing an additional 15,585 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FRGE. UBS Group cut Forge Global from a “buy” rating to a “neutral” rating and upped their price objective for the company from $34.00 to $45.00 in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Piper Sandler cut shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Thursday, November 6th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $42.00.

Forge Global Company Profile

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.