Forge Global Holdings, Inc. (NYSE:FRGE) Given Average Rating of “Hold” by Analysts

Forge Global Holdings, Inc. (NYSE:FRGE) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.00.

Several research firms recently issued reports on FRGE. Citizens Jmp reissued a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research note on Wednesday, October 8th. UBS Group downgraded Forge Global from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $34.00 to $45.00 in a report on Tuesday, November 11th. Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a report on Friday, December 12th. Finally, Piper Sandler downgraded shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Thursday, November 6th.

Forge Global Price Performance

Shares of FRGE stock opened at $44.49 on Wednesday. The stock’s fifty day moving average price is $36.37 and its 200 day moving average price is $24.53. Forge Global has a 1-year low of $6.60 and a 1-year high of $44.76. The company has a market cap of $605.00 million, a price-to-earnings ratio of -8.56 and a beta of 2.18.

Hedge Funds Weigh In On Forge Global

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Forge Global by 13.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 995,979 shares of the company’s stock valued at $560,000 after purchasing an additional 115,536 shares during the period. Nuveen LLC purchased a new position in shares of Forge Global in the 1st quarter valued at about $231,000. Whetstone Capital Advisors LLC acquired a new position in Forge Global in the 1st quarter worth about $209,000. Alyeska Investment Group L.P. purchased a new position in Forge Global during the first quarter worth approximately $1,119,000. Finally, AWM Investment Company Inc. grew its holdings in Forge Global by 793.9% in the first quarter. AWM Investment Company Inc. now owns 3,928,927 shares of the company’s stock valued at $2,208,000 after purchasing an additional 3,489,424 shares during the period. 40.67% of the stock is owned by hedge funds and other institutional investors.

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.