Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Down 8.2% in December

Forge Global Holdings, Inc. (NYSE:FRGE) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,810,000 shares, a decrease of 8.2% from the December 15th total of 3,060,000 shares. Based on an average daily volume of 623,300 shares, the days-to-cover ratio is currently 4.5 days. Currently, 2.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a research note on Tuesday, January 7th.

Insider Activity

In other Forge Global news, CEO Kelly Rodriques sold 25,000 shares of Forge Global stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.04, for a total value of $26,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,153,110 shares in the company, valued at approximately $8,479,234.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jennifer Phillips sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $1.28, for a total value of $64,000.00. Following the completion of the transaction, the executive now directly owns 968,497 shares in the company, valued at approximately $1,239,676.16. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,181 shares of company stock valued at $371,131. 9.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Forge Global by 23.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company’s stock valued at $545,000 after acquiring an additional 70,058 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Forge Global by 42.2% in the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after purchasing an additional 14,800 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Forge Global by 64.4% in the second quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock valued at $324,000 after purchasing an additional 86,959 shares in the last quarter. Interval Partners LP purchased a new position in shares of Forge Global during the second quarter valued at approximately $373,000. Finally, Squarepoint Ops LLC grew its holdings in Forge Global by 1,068.2% during the second quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock worth $240,000 after buying an additional 150,376 shares in the last quarter. 40.67% of the stock is owned by institutional investors.

Forge Global Stock Performance

FRGE stock opened at $0.78 on Monday. The stock’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.20. The company has a market cap of $143.57 million, a P/E ratio of -1.80 and a beta of 2.33. Forge Global has a fifty-two week low of $0.70 and a fifty-two week high of $3.56.

Forge Global (NYSE:FRGE) last issued its earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The firm had revenue of $19.22 million for the quarter, compared to analyst estimates of $22.80 million. Equities analysts predict that Forge Global will post -0.37 earnings per share for the current year.

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.