Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Grows By 8.9%

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 3,180,000 shares, a growth of 8.9% from the November 15th total of 2,920,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 496,400 shares, the days-to-cover ratio is currently 6.4 days.

Insider Buying and Selling at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $1.14, for a total value of $28,500.00. Following the completion of the sale, the executive now directly owns 829,581 shares in the company, valued at $945,722.34. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the transaction, the chief executive officer now directly owns 8,476,028 shares of the company’s stock, valued at $11,273,117.24. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,781 shares of company stock worth $370,231 in the last quarter. 9.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Forge Global

Several institutional investors have recently modified their holdings of FRGE. SG Americas Securities LLC purchased a new position in shares of Forge Global in the third quarter valued at $32,000. Norden Group LLC acquired a new stake in shares of Forge Global during the second quarter worth approximately $53,000. Miracle Mile Advisors LLC grew its stake in shares of Forge Global by 166.7% in the 2nd quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company’s stock valued at $58,000 after buying an additional 25,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Forge Global by 29.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock worth $66,000 after acquiring an additional 7,663 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Forge Global by 23.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock worth $72,000 after purchasing an additional 9,406 shares during the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Price Performance

NYSE FRGE opened at $1.03 on Tuesday. The company has a fifty day moving average of $1.12 and a 200 day moving average of $1.31. Forge Global has a 1 year low of $0.80 and a 1 year high of $4.02. The company has a market capitalization of $190.56 million, a PE ratio of -2.40 and a beta of 2.30.

Forge Global (NYSE:FRGE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $19.22 million for the quarter, compared to analysts’ expectations 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 expect that Forge Global will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group raised Forge Global from a “neutral” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Tuesday, September 3rd.

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.