Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Up 25.2% in March

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 4,030,000 shares, a growth of 25.2% from the March 15th total of 3,220,000 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 797,800 shares, the days-to-cover ratio is currently 5.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FRGE. Oppenheimer reaffirmed an "outperform" rating and issued a $3.50 price target on shares of Forge Global in a research note on Wednesday, March 27th. JMP Securities reissued a "market outperform" rating and issued a $7.00 price objective on shares of Forge Global in a research note on Tuesday, April 9th.

Forge Global Trading Down 5.0 %

FRGE stock traded down $0.10 during mid-day trading on Monday, reaching $1.92. The company's stock had a trading volume of 361,546 shares, compared to its average volume of 779,066. The company's 50 day moving average is $1.97 and its two-hundred day moving average is $2.44. Forge Global has a fifty-two week low of $1.10 and a fifty-two week high of $4.02. The stock has a market cap of $344.64 million, a PE ratio of -3.69 and a beta of 2.57.

Insider Transactions at Forge Global

In other news, CEO Kelly Rodriques sold 22,434 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $2.00, for a total transaction of $44,868.00. Following the sale, the chief executive officer now directly owns 10,953,176 shares of the company's stock, valued at approximately $21,906,352. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 74,818 shares of company stock valued at $143,377 in the last 90 days. 11.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Forge Global

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Forge Global by 393.8% in the 2nd quarter. BlackRock Inc. now owns 7,474,829 shares of the company's stock valued at $18,164,000 after buying an additional 5,961,171 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Forge Global by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 5,446,357 shares of the company's stock valued at $18,681,000 after purchasing an additional 283,682 shares during the period. MUFG Americas Holdings Corp acquired a new stake in Forge Global during the third quarter worth about $8,140,000. Wells Fargo & Company MN raised its stake in Forge Global by 1.6% during the second quarter. Wells Fargo & Company MN now owns 2,557,109 shares of the company's stock worth $6,214,000 after purchasing an additional 41,110 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Forge Global by 124.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,995,803 shares of the company's stock valued at $4,850,000 after purchasing an additional 1,106,935 shares during the last quarter. Institutional investors and hedge funds 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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