Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Up 7.9% in April

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,350,000 shares, an increase of 7.9% from the March 31st total of 4,030,000 shares. Based on an average daily volume of 803,100 shares, the days-to-cover ratio is presently 5.4 days. Currently, 4.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $3.50 price objective on shares of Forge Global in a report on Wednesday, March 27th. JMP Securities reissued a “market outperform” rating and issued a $7.00 price objective on shares of Forge Global in a research report on Tuesday, April 9th.

Insider Buying and Selling at Forge Global

In related news, CEO Kelly Rodriques sold 22,434 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $2.00, for a total value of $44,868.00. Following the transaction, the chief executive officer now owns 10,953,176 shares of the company’s stock, valued at approximately $21,906,352. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 95,621 shares of company stock worth $181,654. 11.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Forge Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC bought a new stake in Forge Global during the 1st quarter valued at $29,000. Tower Research Capital LLC TRC lifted its holdings in Forge Global by 177.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,725 shares of the company’s stock worth $54,000 after purchasing an additional 10,058 shares in the last quarter. Ausdal Financial Partners Inc. bought a new position in Forge Global in the 4th quarter worth about $71,000. SG Americas Securities LLC purchased a new position in Forge Global during the 3rd quarter valued at about $90,000. Finally, Arizona State Retirement System bought a new stake in shares of Forge Global during the fourth quarter valued at about $109,000. 40.67% of the stock is currently owned by institutional investors.

Forge Global Stock Performance

NYSE FRGE opened at $1.91 on Thursday. The company has a 50-day simple moving average of $1.98 and a 200 day simple moving average of $2.42. Forge Global has a 52-week low of $1.10 and a 52-week high of $4.02.

Forge Global (NYSE:FRGE) last announced its quarterly earnings data on Tuesday, March 26th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $19.06 million for the quarter, compared to the consensus estimate of $20.01 million. Forge Global had a negative net margin of 129.22% and a negative return on equity of 29.03%. As a group, analysts anticipate that Forge Global will post -0.41 earnings per share for the current year.

Forge Global Company Profile

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.