Forge Global (NYSE:FRGE) Sets New 1-Year High – What’s Next?

Forge Global Holdings, Inc. (NYSE:FRGE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $44.78 and last traded at $44.6850, with a volume of 34229 shares changing hands. The stock had previously closed at $44.69.

Analysts Set New Price Targets

Several brokerages have commented on FRGE. Citigroup lowered shares of Forge Global from an “outperform” rating to a “market perform” rating in a report on Friday, December 12th. UBS Group cut shares of Forge Global from a “buy” rating to a “neutral” rating and boosted their price target for the company from $34.00 to $45.00 in a research report on Tuesday, November 11th. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Wall Street Zen raised Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Piper Sandler lowered Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Forge Global currently has a consensus rating of “Hold” and an average target price of $42.00.

Forge Global Trading Up 0.0%

The company’s 50 day simple moving average is $38.01 and its 200-day simple moving average is $25.14. The firm has a market cap of $607.80 million, a P/E ratio of -8.60 and a beta of 2.17.

Hedge Funds Weigh In On Forge Global

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after buying an additional 1,613 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in Forge Global in the 2nd quarter worth $47,000. CWM LLC lifted its position in Forge Global by 27.8% during the third quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after purchasing an additional 960 shares in the last quarter. Truist Financial Corp purchased a new stake in Forge Global in the second quarter worth about $190,000. Finally, Brendel Financial Advisors LLC purchased a new position in shares of Forge Global during the 2nd quarter valued at about $209,000. Institutional investors own 40.67% of the company’s stock.

About Forge Global

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.