Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Increases By 45.5%

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 4,350,000 shares, a growth of 45.5% from the March 15th total of 2,990,000 shares. Approximately 3.6% of the company's stock are short sold. Based on an average daily volume of 683,300 shares, the short-interest ratio is currently 6.4 days.

Forge Global Stock Up 6.2 %

Shares of FRGE stock traded up $0.73 during mid-day trading on Wednesday, hitting $12.54. 204,333 shares of the stock were exchanged, compared to its average volume of 46,721. The company has a market cap of $157.36 million, a PE ratio of -29.16 and a beta of 2.39. Forge Global has a 52-week low of $6.60 and a 52-week high of $31.65. The firm has a fifty day moving average of $10.65 and a 200 day moving average of $13.38.

Forge Global announced that its board has initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 16,150 shares of Forge Global stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $15.11, for a total value of $244,026.50. Following the transaction, the executive now owns 22,226 shares in the company, valued at $335,834.86. The trade was a 42.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.22% of the company's stock.

Institutional Investors Weigh In On Forge Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company's stock worth $197,000 after purchasing an additional 110,549 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Forge Global by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company's stock valued at $3,433,000 after acquiring an additional 18,913 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Forge Global by 167.3% in the fourth quarter. SG Americas Securities LLC now owns 65,361 shares of the company's stock valued at $61,000 after acquiring an additional 40,908 shares in the last quarter. State Street Corp increased its position in shares of Forge Global by 1.2% during the third quarter. State Street Corp now owns 2,263,898 shares of the company's stock worth $2,966,000 after purchasing an additional 25,833 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Forge Global by 361.3% in the 4th quarter. Intech Investment Management LLC now owns 55,500 shares of the company's stock valued at $52,000 after purchasing an additional 43,468 shares during the last quarter. Hedge funds and other institutional investors own 40.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FRGE shares. JPMorgan Chase & Co. reissued an "underweight" rating on shares of Forge Global in a report on Tuesday, January 7th. JMP Securities reduced their price target on Forge Global from $75.00 to $60.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th.

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.