Forge Global Holdings, Inc. (NYSE:FRGE) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Analysts rate the stock "Reduce": Six analysts cover Forge Global with a consensus recommendation of "Reduce" (one sell, five hold) and an average 12‑month price target of $42.00.
• Recent price and valuation: FRGE opened at $45.00, trading near its 52‑week high of $45.03 (52‑week low $6.60); the company has a market cap of about $623 million and a negative P/E of -8.65.
• Institutional activity: About 40.67% of shares are held by institutions, and several funds recently added small positions or increased stakes (notably BNP Paribas raised its holding by 303.8%).

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) has been given a consensus recommendation of "Reduce" by the six analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.00.

FRGE has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Forge Global in a research report on Thursday, January 22nd. Citigroup lowered Forge Global from an "outperform" rating to a "market perform" rating in a research note on Friday, December 12th. Finally, Citizens Jmp restated a "market perform" rating on shares of Forge Global in a research report on Friday, December 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Forge Global in the 4th quarter valued at about $34,000. BNP Paribas Financial Markets raised its holdings in shares of Forge Global by 303.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company's stock valued at $36,000 after purchasing an additional 1,613 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Forge Global by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company's stock valued at $39,000 after purchasing an additional 2,964 shares during the last quarter. Meteora Capital LLC bought a new position in Forge Global during the fourth quarter worth about $46,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Forge Global during the second quarter worth about $47,000. 40.67% of the stock is owned by institutional investors and hedge funds.

Forge Global Price Performance

Shares of FRGE stock opened at $45.00 on Friday. The stock's fifty day simple moving average is $44.79 and its 200 day simple moving average is $36.59. Forge Global has a one year low of $6.60 and a one year high of $45.03. The firm has a market cap of $623.03 million, a price-to-earnings ratio of -8.65 and a beta of 2.18.

Forge Global Company Profile

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company's core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.