Forge Global Holdings, Inc. (NYSE:FRGE) Given Average Recommendation of “Reduce” by Brokerages

Forge Global Holdings, Inc. (NYSE:FRGE) has been given a consensus rating of “Reduce” by the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $42.00.

A number of research analysts recently issued reports on the company. Citizens Jmp restated a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. UBS Group lowered Forge Global from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $34.00 to $45.00 in a research report on Tuesday, November 11th. Citigroup cut Forge Global from an “outperform” rating to a “market perform” rating in a research note on Friday, December 12th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research note on Thursday, January 22nd.

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $45.00 on Monday. The company has a 50-day moving average price of $44.68 and a 200-day moving average price of $34.05. The company has a market cap of $623.03 million, a price-to-earnings ratio of -8.65 and a beta of 2.18. Forge Global has a 12 month low of $6.60 and a 12 month high of $45.03.

Institutional Investors Weigh In On Forge Global

Several institutional investors and hedge funds have recently modified their holdings of FRGE. Caitong International Asset Management Co. Ltd bought a new stake in shares of Forge Global during the 4th quarter valued at about $34,000. CWM LLC raised its stake in Forge Global by 27.8% in the third quarter. CWM LLC now owns 4,409 shares of the company’s stock worth $75,000 after buying an additional 960 shares in the last quarter. Meteora Capital LLC bought a new position in Forge Global in the fourth quarter worth about $46,000. Charles Schwab Investment Management Inc. lifted its holdings in Forge Global by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,737 shares of the company’s stock worth $3,286,000 after buying an additional 1,612 shares during the period. Finally, 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 buying an additional 1,613 shares during the period. 40.67% of the stock is owned by hedge funds and other institutional investors.

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.