Forge Global Holdings, Inc. (NYSE:FRGE) Receives Average Rating of “Reduce” from Brokerages

Forge Global Holdings, Inc. (NYSE:FRGE) has earned a consensus recommendation of “Reduce” from the six research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $42.00.

FRGE has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. UBS Group cut shares of Forge Global from a “buy” rating to a “neutral” rating and upped their price target for the company from $34.00 to $45.00 in a research note on Tuesday, November 11th. Wall Street Zen upgraded 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 target price on the stock. in a report on Thursday, November 6th. Finally, Citizens Jmp restated a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th.

Forge Global Stock Performance

FRGE stock opened at $45.01 on Monday. The stock has a fifty day moving average of $44.64 and a 200-day moving average of $33.38. Forge Global has a fifty-two week low of $6.60 and a fifty-two week high of $45.03. The company has a market capitalization of $623.32 million, a price-to-earnings ratio of -8.66 and a beta of 2.18.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of Forge Global by 305.0% during the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after buying an additional 146,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock valued at $39,000 after acquiring an additional 2,964 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Forge Global during the 2nd quarter worth approximately $47,000. Raymond James Financial Inc. purchased a new stake in Forge Global in the 2nd quarter worth approximately $1,891,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Forge Global in the 2nd quarter worth approximately $728,000. 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.