Forge Global Holdings, Inc. (NYSE:FRGE) Given Average Rating of “Hold” by Analysts

Forge Global Holdings, Inc. (NYSE:FRGE) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $42.00.

A number of brokerages have recently issued reports on FRGE. Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research note on Wednesday, October 8th. Wall Street Zen raised Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Citizens Jmp restated a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. Piper Sandler cut Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Thursday, November 6th. Finally, Citigroup lowered shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th.

Forge Global Trading Down 0.3%

Shares of FRGE opened at $44.66 on Friday. The company’s 50 day simple moving average is $43.24 and its 200-day simple moving average is $27.01. Forge Global has a 12-month low of $6.60 and a 12-month high of $44.88. The firm has a market cap of $607.31 million, a PE ratio of -8.59 and a beta of 2.18.

Institutional Trading of Forge Global

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new stake in Forge Global during the 2nd quarter valued at $728,000. Truist Financial Corp bought a new position in Forge Global during the second quarter valued at $190,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Forge Global in the second quarter valued at $47,000. Brendel Financial Advisors LLC purchased a new stake in shares of Forge Global in the second quarter valued at $209,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Forge Global in the 2nd quarter worth about $1,891,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Company Profile

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.