Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Update

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totalling 384,600 shares, a decrease of 91.2% from the March 31st total of 4,350,000 shares. Based on an average daily trading volume, of 91,300 shares, the short-interest ratio is currently 4.2 days. Currently, 4.8% of the shares of the stock are sold short.

Forge Global Trading Down 0.0 %

FRGE stock traded down $0.00 during trading on Friday, hitting $12.71. The company had a trading volume of 142,432 shares, compared to its average volume of 47,468. The company has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $13.29. Forge Global has a fifty-two week low of $6.60 and a fifty-two week high of $31.65. The company has a market cap of $159.46 million, a P/E ratio of -29.55 and a beta of 2.39.

Forge Global announced that its board has authorized a stock buyback program on Wednesday, March 5th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FRGE has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Forge Global in a report on Tuesday, January 7th. JMP Securities dropped their price objective on shares of Forge Global from $75.00 to $60.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th.

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 transaction of $244,026.50. Following the transaction, the executive now owns 22,226 shares of the company's stock, valued at $335,834.86. The trade was a 42.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FRGE. Prudential Financial Inc. acquired a new position in Forge Global in the fourth quarter worth $27,000. ProShare Advisors LLC increased its position in Forge Global by 51.3% in the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company's stock valued at $31,000 after acquiring an additional 11,126 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Forge Global in the fourth quarter worth about $32,000. Focus Partners Wealth acquired a new position in shares of Forge Global during the fourth quarter worth approximately $37,000. Finally, Intech Investment Management LLC grew its stake in shares of Forge Global by 361.3% during the fourth 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. 40.67% of the stock is owned by institutional investors and hedge funds.

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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