Forge Global (NYSE:FRGE) Sees Strong Trading Volume – Here’s Why

Forge Global Holdings, Inc. (NYSE:FRGE) shares saw unusually-strong trading volume on Wednesday . 357,925 shares changed hands during trading, an increase of 87% from the previous session’s volume of 191,259 shares.The stock last traded at $44.4650 and had previously closed at $44.45.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group lowered Forge Global from a “buy” rating to a “neutral” rating and upped their target price for the company from $34.00 to $45.00 in a research report on Tuesday, November 11th. Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Piper Sandler cut shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Forge Global presently has an average rating of “Hold” and a consensus price target of $42.00.

Forge Global Stock Up 0.1%

The stock has a market cap of $604.86 million, a P/E ratio of -8.55 and a beta of 2.18. The firm’s 50 day simple moving average is $33.59 and its two-hundred day simple moving average is $23.46.

Institutional Investors Weigh In On Forge Global

Several institutional investors and hedge funds have recently bought and sold shares of FRGE. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 1,613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Forge Global by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after acquiring an additional 2,964 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Forge Global in the 2nd quarter valued at about $47,000. CWM LLC lifted its position in 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 purchasing an additional 960 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Forge Global by 305.0% during the 1st quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after purchasing an additional 146,565 shares during the period. Institutional investors and hedge funds 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.