Forge Global (NYSE:FRGE) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Forge Global, indicating a negative outlook from the analysts.
• Despite the downgrade, UBS Group has raised its price target for Forge Global from $30.00 to $34.00 and maintained a "buy" rating, showcasing differing analyst opinions.
• Insider activity shows CFO James Nevin purchased 1,950 shares, while CEO Kelly Rodriques sold 3,530 shares, highlighting mixed confidence among executives.

Forge Global (NYSE:FRGE - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the company. UBS Group lifted their price objective on Forge Global from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded Forge Global from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $35.50.

Forge Global Price Performance

NYSE FRGE opened at $16.58 on Wednesday. The company has a market cap of $225.49 million, a PE ratio of -3.11 and a beta of 2.25. The stock's 50 day simple moving average is $18.68 and its 200-day simple moving average is $15.78. Forge Global has a 1-year low of $6.60 and a 1-year high of $24.90.

Forge Global (NYSE:FRGE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.16) by $0.17. The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $21.00 million. Forge Global had a negative return on equity of 28.21% and a negative net margin of 73.62%. On average, equities research analysts anticipate that Forge Global will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Forge Global news, CFO James Nevin bought 1,950 shares of Forge Global stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $22.65 per share, for a total transaction of $44,167.50. Following the completion of the transaction, the chief financial officer directly owned 24,124 shares of the company's stock, valued at $546,408.60. This trade represents a 8.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kelly Rodriques sold 3,530 shares of Forge Global stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $19.71, for a total value of $69,576.30. Following the completion of the sale, the chief executive officer owned 572,332 shares in the company, valued at $11,280,663.72. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Forge Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. raised its position in Forge Global by 793.9% in the first quarter. AWM Investment Company Inc. now owns 3,928,927 shares of the company's stock valued at $2,208,000 after purchasing an additional 3,489,424 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Forge Global in the first quarter valued at $1,119,000. Charles Schwab Investment Management Inc. raised its position in Forge Global by 13.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 995,979 shares of the company's stock valued at $560,000 after purchasing an additional 115,536 shares during the period. Nuveen LLC acquired a new stake in shares of Forge Global in the first quarter valued at $231,000. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of Forge Global in the first quarter valued at $209,000. Hedge funds and other institutional investors own 40.67% of the company's stock.

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.

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