Forge Global (NYSE:FRGE) Sees Large Volume Increase – Here’s What Happened

Forge Global Holdings, Inc. (NYSE:FRGE) saw unusually-strong trading volume on Wednesday . Approximately 325,369 shares traded hands during mid-day trading, an increase of 95% from the previous session’s volume of 167,051 shares.The stock last traded at $44.0950 and had previously closed at $44.05.

Analysts Set New Price Targets

FRGE has been the subject of several recent analyst reports. Wall Street Zen raised Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler cut Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a report on Thursday, November 6th. Citigroup restated a “market outperform” rating on shares of Forge Global in a report on Tuesday, October 28th. UBS Group cut shares of Forge Global from a “buy” rating to a “neutral” rating and lifted their price target for the company from $34.00 to $45.00 in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Forge Global currently has an average rating of “Hold” and a consensus target price of $42.00.

Forge Global Stock Performance

The company has a market capitalization of $602.48 million, a price-to-earnings ratio of -8.52 and a beta of 2.27. The firm has a 50-day simple moving average of $23.61 and a two-hundred day simple moving average of $19.57.

Hedge Funds Weigh In On Forge Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in shares of Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock worth $36,000 after acquiring an additional 1,613 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Forge Global by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after purchasing an additional 2,964 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Forge Global in the 2nd quarter valued at about $47,000. CWM LLC boosted its stake in shares of Forge Global by 27.8% in the 3rd quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after buying an additional 960 shares during the period. Finally, AQR Capital Management LLC grew 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 worth $109,000 after buying an additional 146,565 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

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.