Forge Global (NYSE:FRGE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Forge Global (NYSE:FRGE) released its quarterly earnings data on Wednesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%.

Forge Global Stock Down 4.8 %

Shares of NYSE:FRGE traded down $0.04 on Wednesday, reaching $0.85. The company had a trading volume of 514,764 shares, compared to its average volume of 613,557. The stock has a market capitalization of $158.02 million, a P/E ratio of -1.97 and a beta of 2.30. The stock has a 50-day moving average price of $0.85 and a 200 day moving average price of $1.07. Forge Global has a twelve month low of $0.70 and a twelve month high of $3.56.

Analysts Set New Price Targets

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

Insider Activity

In related news, CRO Jennifer Phillips sold 159,108 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.00, for a total transaction of $159,108.00. Following the completion of the sale, the executive now directly owns 604,728 shares of the company’s stock, valued at approximately $604,728. This represents a 20.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kelly Rodriques sold 50,000 shares of Forge Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total transaction of $40,000.00. Following the completion of the transaction, the chief executive officer now owns 8,030,213 shares in the company, valued at $6,424,170.40. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,508 shares of company stock valued at $226,508. Insiders own 9.84% of the company’s stock.

About Forge Global

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.