Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Decreases By 8.2%

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,810,000 shares, a decrease of 8.2% from the December 15th total of 3,060,000 shares. Based on an average trading volume of 623,300 shares, the days-to-cover ratio is presently 4.5 days. Approximately 2.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 directly owns 8,030,213 shares of the company’s stock, valued at $6,424,170.40. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jennifer Phillips sold 25,000 shares of Forge Global stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.14, for a total value of $28,500.00. Following the completion of the sale, the executive now directly owns 854,581 shares of the company’s stock, valued at approximately $974,222.34. This trade represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 354,181 shares of company stock valued at $371,131 over the last 90 days. Company insiders own 9.84% of the company’s stock.

Institutional Trading of Forge Global

A number of institutional investors and hedge funds have recently made changes to their positions in FRGE. SG Americas Securities LLC bought a new position in shares of Forge Global in the third quarter valued at $32,000. The Manufacturers Life Insurance Company lifted its stake in shares of Forge Global by 23.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after purchasing an additional 9,406 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Forge Global by 42.2% in the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after buying an additional 14,800 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Forge Global by 116.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock worth $81,000 after purchasing an additional 46,700 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Forge Global in the 3rd quarter worth $96,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Forge Global Stock Down 2.7 %

NYSE FRGE traded down $0.02 on Friday, reaching $0.78. The stock had a trading volume of 469,944 shares, compared to its average volume of 578,150. The firm has a market capitalization of $143.57 million, a price-to-earnings ratio of -1.80 and a beta of 2.33. The stock has a fifty day moving average price of $0.94 and a two-hundred day moving average price of $1.20. Forge Global has a 12-month low of $0.70 and a 12-month high of $3.56.

Forge Global (NYSE:FRGE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share 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%. Sell-side analysts forecast that Forge Global will post -0.37 earnings per share for the current fiscal year.

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.