Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Down 5.5% in October

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,640,000 shares, a decrease of 5.5% from the October 15th total of 3,850,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 374,400 shares, the short-interest ratio is currently 9.7 days.

Insider Activity at Forge Global

In other news, CRO Jennifer Phillips sold 38,916 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $1.21, for a total transaction of $47,088.36. Following the completion of the sale, the executive now owns 879,581 shares in the company, valued at $1,064,293.01. The trade was a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kelly Rodriques sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.28, for a total value of $51,200.00. Following the transaction, the chief executive officer now owns 8,704,400 shares in the company, valued at approximately $11,141,632. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,363 shares of company stock worth $403,236. Company insiders own 9.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Forge Global during the third quarter worth about $32,000. Price T Rowe Associates Inc. MD increased its stake in Forge Global by 29.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company’s stock valued at $66,000 after acquiring an additional 7,663 shares during the last quarter. Norden Group LLC acquired a new position in Forge Global during the second quarter valued at approximately $53,000. Miracle Mile Advisors LLC raised its position in Forge Global by 166.7% during the second quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company’s stock valued at $58,000 after purchasing an additional 25,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Forge Global by 23.8% during the second 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. Institutional investors own 40.67% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $0.83 on Tuesday. Forge Global has a 12-month low of $0.80 and a 12-month high of $4.02. The company’s 50 day moving average price is $1.24 and its two-hundred day moving average price is $1.42.

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