Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Decreases By 5.5%

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,640,000 shares, a decrease of 5.5% from the October 15th total of 3,850,000 shares. Based on an average daily volume of 374,400 shares, the days-to-cover ratio is presently 9.7 days. Approximately 2.7% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CRO Jennifer Phillips sold 38,916 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $1.21, for a total value of $47,088.36. Following the completion of the transaction, the executive now owns 879,581 shares of the company's stock, valued at approximately $1,064,293.01. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kelly Rodriques sold 60,000 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $1.29, for a total transaction of $77,400.00. Following the completion of the transaction, the chief executive officer now owns 8,827,772 shares of the company's stock, valued at approximately $11,387,825.88. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,363 shares of company stock valued at $403,236 over the last quarter. 9.84% of the stock is owned by company insiders.

Institutional Trading of Forge Global

Several large investors have recently modified their holdings of FRGE. Vanguard Group Inc. grew its position in shares of Forge Global by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 5,539,496 shares of the company's stock worth $10,691,000 after buying an additional 93,139 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Forge Global by 29.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,686 shares of the company's stock worth $66,000 after buying an additional 7,663 shares during the period. Miracle Mile Advisors LLC grew its position in shares of Forge Global by 166.7% during the 2nd quarter. Miracle Mile Advisors LLC now owns 40,000 shares of the company's stock worth $58,000 after buying an additional 25,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of Forge Global by 23.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,341 shares of the company's stock worth $545,000 after buying an additional 70,058 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Forge Global during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 40.67% of the company's stock.

Analyst Ratings Changes

Separately, UBS Group upgraded shares of Forge Global from a "neutral" rating to a "buy" rating and set a $3.00 price objective for the company in a report on Tuesday, September 3rd.

Forge Global Price Performance

NYSE FRGE traded down $0.01 during trading hours on Monday, reaching $0.83. The company's stock had a trading volume of 603,921 shares, compared to its average volume of 543,444. The stock has a market cap of $152.93 million, a P/E ratio of -1.95 and a beta of 2.39. The firm has a fifty day simple moving average of $1.24 and a 200-day simple moving average of $1.42. Forge Global has a 52 week low of $0.80 and a 52 week high of $4.02.

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

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.