Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Increases By 8.9%

Forge Global Holdings, Inc. (NYSE:FRGE - Get Free Report) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 3,180,000 shares, an increase of 8.9% from the November 15th total of 2,920,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 496,400 shares, the days-to-cover ratio is currently 6.4 days.

Forge Global Stock Down 6.5 %

Shares of Forge Global stock traded down $0.07 during trading on Tuesday, hitting $0.96. The stock had a trading volume of 616,662 shares, compared to its average volume of 553,899. The company has a market capitalization of $178.22 million, a PE ratio of -2.24 and a beta of 2.30. Forge Global has a 1 year low of $0.80 and a 1 year high of $4.02. The stock has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $1.30.

Forge Global (NYSE:FRGE - Get Free Report) last released its 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). The business had revenue of $19.22 million during the quarter, compared to analysts' expectations of $22.80 million. Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. As a group, equities analysts expect that Forge Global will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Forge Global

In related news, CRO Jennifer Phillips sold 25,000 shares of Forge Global stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.14, for a total transaction of $28,500.00. Following the transaction, the executive now directly owns 854,581 shares of the company's stock, valued at $974,222.34. The trade was a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kelly Rodriques sold 50,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the completion of the sale, the chief executive officer now directly owns 8,476,028 shares of the company's stock, valued at $11,273,117.24. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,781 shares of company stock worth $370,231 over the last ninety days. 9.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Forge Global

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Forge Global in the 3rd quarter worth about $32,000. Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 7,663 shares during the last quarter. Norden Group LLC acquired a new position in shares of Forge Global during the 2nd quarter worth $53,000. Miracle Mile Advisors LLC raised its holdings 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 valued at $58,000 after purchasing an additional 25,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Forge Global by 23.8% in 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 last quarter. Institutional investors and hedge funds own 40.67% of the company's stock.

Analysts Set New Price Targets

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

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.