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

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 765,982 shares, an increase of 33.5% from the January 29th total of 573,763 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average trading volume of 214,200 shares, the short-interest ratio is currently 3.6 days. Based on an average trading volume of 214,200 shares, the short-interest ratio is currently 3.6 days. Approximately 5.8% of the company’s stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FRGE. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler cut shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Thursday, November 6th. Finally, Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $42.00.

Forge Global Price Performance

NYSE:FRGE remained flat at $45.00 during trading hours on Wednesday. The stock has a market capitalization of $623.03 million, a PE ratio of -8.65 and a beta of 2.18. The business’s 50 day moving average price is $44.67 and its two-hundred day moving average price is $33.80. Forge Global has a twelve month low of $6.60 and a twelve month high of $45.03.

Institutional Investors Weigh In On Forge Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Capital Management L.P. bought a new position in Forge Global during the 4th quarter worth approximately $13,716,000. FIL Ltd purchased a new stake in shares of Forge Global during the fourth quarter valued at approximately $13,368,000. Soros Fund Management LLC bought a new position in shares of Forge Global in the fourth quarter worth approximately $8,846,000. Water Island Capital LLC bought a new position in shares of Forge Global in the fourth quarter worth approximately $8,782,000. Finally, Renaissance Technologies LLC increased its stake in shares of Forge Global by 287.3% in the fourth quarter. Renaissance Technologies LLC now owns 226,079 shares of the company’s stock worth $10,074,000 after buying an additional 167,700 shares during the period. 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.