Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Decreases By 8.2%

Forge Global Holdings, Inc. (NYSE:FRGE) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 2,810,000 shares, a drop of 8.2% from the December 15th total of 3,060,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 623,300 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. restated an “underweight” rating on shares of Forge Global in a research report on Tuesday, January 7th.

Insider Transactions at Forge Global

In other news, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total transaction of $40,000.00. Following the sale, the chief executive officer now directly owns 8,030,213 shares of the company’s stock, valued at approximately $6,424,170.40. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jennifer Phillips sold 38,916 shares of the business’s 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 directly owns 879,581 shares of the company’s stock, valued at approximately $1,064,293.01. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,181 shares of company stock valued at $371,131. 9.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Forge Global by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock worth $3,433,000 after acquiring an additional 18,913 shares during the last quarter. State Street Corp grew its stake in shares of Forge Global by 1.2% in the third quarter. State Street Corp now owns 2,263,898 shares of the company’s stock worth $2,966,000 after purchasing an additional 25,833 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Forge Global by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after purchasing an additional 36,913 shares during the period. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 70,058 shares during the last quarter. Finally, Interval Partners LP acquired a new position in Forge Global during the 2nd quarter worth about $373,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Trading Down 2.7 %

Shares of NYSE FRGE opened at $0.78 on Monday. Forge Global has a 12 month low of $0.70 and a 12 month high of $3.56. The company has a market cap of $143.57 million, a price-to-earnings ratio of -1.80 and a beta of 2.33. The stock has a 50-day moving average price of $0.94 and a two-hundred day moving average price of $1.20.

Forge Global (NYSE:FRGE) last issued 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). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The firm had revenue of $19.22 million during the quarter, compared to analyst estimates of $22.80 million. On average, sell-side analysts predict that Forge Global will post -0.37 earnings per share for the current year.

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.