Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Rises By 38.2%

by · The Cerbat Gem

Forge Global Holdings, Inc. (NYSE:FRGE – Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 503,725 shares, an increase of 38.2% from the November 30th total of 364,610 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average daily trading volume, of 256,747 shares, the short-interest ratio is currently 2.0 days. Based on an average daily trading volume, of 256,747 shares, the short-interest ratio is currently 2.0 days. Approximately 3.9% of the company’s shares are sold short.

Forge Global Price Performance

Shares of Forge Global stock traded up $0.03 during midday trading on Wednesday, reaching $44.57. 100,220 shares of the company’s stock traded hands, compared to its average volume of 252,617. The stock has a 50 day moving average of $39.68 and a 200-day moving average of $25.68. Forge Global has a 12 month low of $6.60 and a 12 month high of $44.78.

Analyst Ratings Changes

FRGE has been the subject of several analyst reports. Piper Sandler cut Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Thursday, November 6th. Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Citizens Jmp reissued a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.00.

Check Out Our Latest Research Report on FRGE

Institutional Investors Weigh In On Forge Global

A number of large investors have recently modified their holdings of FRGE. BNP Paribas Financial Markets raised its stake in Forge Global by 303.8% in the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock worth $36,000 after buying an additional 1,613 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Forge Global during the 2nd quarter worth approximately $47,000. CWM LLC raised its position in shares of Forge Global by 27.8% in the 3rd quarter. CWM LLC now owns 4,409 shares of the company’s stock worth $75,000 after acquiring an additional 960 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Forge Global in the 2nd quarter valued at approximately $190,000. Finally, Brendel Financial Advisors LLC bought a new stake in shares of Forge Global during the second quarter valued at approximately $209,000. Institutional investors own 40.67% of the company’s stock.

About Forge Global

(Get Free Report)

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.

Read More