Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 4,350,000 shares, a growth of 7.9% from the March 31st total of 4,030,000 shares. Based on an average daily volume of 803,100 shares, the short-interest ratio is currently 5.4 days. Currently, 4.2% of the company's shares are sold short.
Forge Global Price Performance
Shares of NYSE:FRGE traded up $0.08 during mid-day trading on Wednesday, hitting $1.91. The company had a trading volume of 452,362 shares, compared to its average volume of 745,955. The firm has a fifty day moving average price of $1.98 and a 200 day moving average price of $2.42. The company has a market capitalization of $344.58 million, a PE ratio of -3.67 and a beta of 2.57. Forge Global has a one year low of $1.10 and a one year high of $4.02.
Forge Global (NYSE:FRGE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 26th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The business had revenue of $19.06 million for the quarter, compared to the consensus estimate of $20.01 million. Forge Global had a negative net margin of 129.22% and a negative return on equity of 29.03%. Research analysts expect that Forge Global will post -0.41 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have commented on FRGE shares. JMP Securities reiterated a "market outperform" rating and issued a $7.00 price target on shares of Forge Global in a research note on Tuesday, April 9th. Oppenheimer reiterated an "outperform" rating and issued a $3.50 price target on shares of Forge Global in a research note on Wednesday, March 27th.
Read Our Latest Stock Analysis on FRGE
Insider Buying and Selling at Forge Global
In other news, CEO Kelly Rodriques sold 24,818 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $1.77, for a total value of $43,927.86. Following the completion of the transaction, the chief executive officer now owns 10,139,507 shares in the company, valued at $17,946,927.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 95,621 shares of company stock valued at $181,654. Corporate insiders own 11.26% of the company's stock.
Hedge Funds Weigh In On Forge Global
Institutional investors have recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC purchased a new stake in Forge Global in the first quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its stake in shares of Forge Global by 177.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,725 shares of the company's stock worth $54,000 after acquiring an additional 10,058 shares in the last quarter. Ausdal Financial Partners Inc. purchased a new position in shares of Forge Global during the fourth quarter worth approximately $71,000. SG Americas Securities LLC bought a new position in shares of Forge Global in the third quarter worth approximately $90,000. Finally, Arizona State Retirement System bought a new position in shares of Forge Global in the fourth quarter worth approximately $109,000. Institutional investors own 40.67% of the company's stock.
Forge Global Company Profile
(
Get Free Report)
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.
Further Reading
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