Forge Global's (FRGE) "Underweight" Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Forge Global (NYSE:FRGE - Free Report) in a research report report published on Tuesday, Marketbeat reports.

Forge Global Stock Performance

NYSE:FRGE traded down $0.04 during trading hours on Tuesday, hitting $0.83. 735,964 shares of the company's stock traded hands, compared to its average volume of 691,291. Forge Global has a twelve month low of $0.80 and a twelve month high of $3.56. The firm has a market cap of $153.60 million, a P/E ratio of -1.93 and a beta of 2.33. The stock's fifty day moving average price is $1.01 and its two-hundred day moving average price is $1.24.

Forge Global (NYSE:FRGE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The company had revenue of $19.22 million during the quarter, compared to analysts' expectations of $22.80 million. On average, equities research analysts predict that Forge Global will post -0.37 earnings per share for the current year.

Insider Transactions at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $1.28, for a total value of $64,000.00. Following the completion of the sale, the executive now directly owns 968,497 shares of the company's stock, valued at $1,239,676.16. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kelly Rodriques sold 25,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $1.04, for a total transaction of $26,000.00. Following the transaction, the chief executive officer now owns 8,153,110 shares in the company, valued at approximately $8,479,234.40. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,181 shares of company stock valued at $397,631. 9.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Forge Global

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in Forge Global in the 3rd quarter worth approximately $32,000. Norden Group LLC acquired a new position in shares of Forge Global during the 2nd quarter worth about $53,000. The Manufacturers Life Insurance Company boosted its stake in Forge Global by 23.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company's stock valued at $72,000 after purchasing an additional 9,406 shares during the period. Renaissance Technologies LLC grew its holdings in Forge Global by 42.2% in the 2nd quarter. Renaissance Technologies LLC now owns 49,900 shares of the company's stock valued at $73,000 after buying an additional 14,800 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Forge Global in the 3rd quarter worth approximately $96,000. 40.67% of the stock is currently owned by institutional investors.

About Forge Global

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.