Forge Global Holdings, Inc. (NYSE:FRGE – Get Free Report) 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.
Check Out Our Latest Stock Report on Forge Global
Insider Activity at Forge Global
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 – Get Free Report) 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.
Read More
- Five stocks we like better than Forge Global
- CD Calculator: Certificate of Deposit Calculator
- Why Dick’s Could Be a Slam Dunk for Your Investment Portfolio
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Introduction to Fibonacci Retracement Levels
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Top 3 Stocks to Outperform the S&P 500 in a Downturn
Receive News & Ratings for Forge Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forge Global and related companies with MarketBeat.com's FREE daily email newsletter.