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

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 5,110,000 shares, a growth of 5.1% from the July 31st total of 4,860,000 shares. Approximately 4.7% of the shares of the company are short sold. Based on an average trading volume of 416,700 shares, the short-interest ratio is presently 12.3 days.

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 for the company in a research report on Tuesday.

Insider Activity at Forge Global

In other news, CEO Kelly Rodriques sold 85,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $1.39, for a total value of $118,150.00. Following the completion of the sale, the chief executive officer now directly owns 10,009,551 shares in the company, valued at $13,913,275.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Drew Sievers sold 24,051 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1.30, for a total value of $31,266.30. Following the sale, the chief operating officer now owns 832,444 shares in the company, valued at $1,082,177.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kelly Rodriques sold 85,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $1.39, for a total transaction of $118,150.00. Following the transaction, the chief executive officer now owns 10,009,551 shares of the company’s stock, valued at $13,913,275.89. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 727,452 shares of company stock valued at $1,000,345. Corporate insiders own 9.84% of the company’s stock.

Hedge Funds Weigh In On Forge Global

Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its stake in Forge Global by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after acquiring an additional 9,406 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Forge Global by 1,068.2% in the 2nd quarter. Squarepoint Ops LLC now owns 164,454 shares of the company’s stock valued at $240,000 after buying an additional 150,376 shares during the last quarter. Interval Partners LP bought a new position in shares of Forge Global in the 2nd quarter valued at about $373,000. First Eagle Investment Management LLC grew its holdings in Forge Global by 64.4% during the second quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after purchasing an additional 86,959 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Forge Global by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after acquiring an additional 14,800 shares during the period. Institutional investors and hedge funds own 40.67% of the company’s stock.

Forge Global Stock Performance

Shares of FRGE opened at $1.34 on Thursday. The stock has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.70. The company has a market cap of $242.59 million, a price-to-earnings ratio of -2.68 and a beta of 2.39. Forge Global has a 52-week low of $1.17 and a 52-week high of $4.02.

Forge Global (NYSE:FRGE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The firm had revenue of $22.28 million for the quarter, compared to analyst estimates of $20.24 million. Forge Global had a negative return on equity of 27.75% and a negative net margin of 96.65%. During the same period last year, the company earned ($0.12) EPS. As a group, research analysts predict that Forge Global will post -0.34 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.