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

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

Analyst Upgrades and Downgrades

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 report on Tuesday, September 3rd.

Forge Global Price Performance

Shares of NYSE:FRGE opened at $0.84 on Monday. The company has a market cap of $154.91 million, a price-to-earnings ratio of -1.95 and a beta of 2.39. Forge Global has a one year low of $0.83 and a one year high of $4.02. The firm has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $1.42.

Forge Global (NYSE:FRGE) last posted its earnings results on Wednesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 business had revenue of $19.22 million for the quarter, compared to analysts’ expectations of $22.80 million. Equities research analysts expect that Forge Global will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kelly Rodriques sold 18,405 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $1.36, for a total value of $25,030.80. Following the completion of the transaction, the chief executive officer now directly owns 8,600,995 shares of the company’s stock, valued at approximately $11,697,353.20. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jennifer Phillips sold 38,916 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $1.21, for a total transaction of $47,088.36. Following the sale, the executive now directly owns 879,581 shares in the company, valued at $1,064,293.01. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 318,363 shares of company stock valued at $403,236. 9.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Interval Partners LP bought a new stake in Forge Global during the second quarter valued at approximately $373,000. Squarepoint Ops LLC raised its position in shares of Forge Global by 1,068.2% during 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 in the last quarter. Barclays PLC lifted its holdings in shares of Forge Global by 278.5% during the 3rd quarter. Barclays PLC now owns 150,241 shares of the company’s stock worth $197,000 after acquiring an additional 110,549 shares during the last quarter. Vanguard Group Inc. grew its position in Forge Global by 1.7% in the first quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company’s stock worth $10,691,000 after acquiring an additional 93,139 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Forge Global by 64.4% in the second quarter. First Eagle Investment Management LLC now owns 221,959 shares of the company’s stock worth $324,000 after acquiring an additional 86,959 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

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.