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

Forge Global Holdings, Inc. (NYSE:FRGE) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 4,350,000 shares, a growth of 7.9% from the March 31st total of 4,030,000 shares. Currently, 4.2% of the company’s stock are sold short. Based on an average daily volume of 803,100 shares, the days-to-cover ratio is currently 5.4 days.

Insider Activity at Forge Global

In related news, CEO Kelly Rodriques sold 22,434 shares of Forge Global stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $2.00, for a total transaction of $44,868.00. Following the sale, the chief executive officer now directly owns 10,953,176 shares in the company, valued at $21,906,352. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 95,621 shares of company stock worth $181,654 over the last ninety days. 11.26% of the stock is owned by corporate insiders.

Institutional Trading of Forge Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in Forge Global by 0.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,548,972 shares of the company’s stock valued at $8,743,000 after purchasing an additional 6,487 shares during the period. SG Americas Securities LLC raised its stake in Forge Global by 17.5% during the 4th quarter. SG Americas Securities LLC now owns 51,810 shares of the company’s stock valued at $178,000 after purchasing an additional 7,720 shares during the period. Tower Research Capital LLC TRC raised its stake in Forge Global by 177.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,725 shares of the company’s stock valued at $54,000 after purchasing an additional 10,058 shares during the period. Miracle Mile Advisors LLC bought a new stake in Forge Global during the 1st quarter valued at approximately $29,000. Finally, Ausdal Financial Partners Inc. bought a new stake in Forge Global during the 4th quarter valued at approximately $71,000. Institutional investors own 40.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on FRGE shares. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Forge Global in a research report on Tuesday, April 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $3.50 price objective on shares of Forge Global in a research note on Wednesday, March 27th.

Forge Global Stock Up 4.4 %

NYSE FRGE opened at $1.91 on Thursday. The stock’s 50-day moving average price is $1.98 and its 200-day moving average price is $2.42. Forge Global has a 52 week low of $1.10 and a 52 week high of $4.02.

Forge Global (NYSE:FRGE) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). Forge Global had a negative return on equity of 29.03% and a negative net margin of 129.22%. The company had revenue of $19.06 million during the quarter, compared to the consensus estimate of $20.01 million. On average, research analysts anticipate that Forge Global will post -0.41 EPS for the current fiscal 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.