Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Update

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 503,725 shares, an increase of 38.2% from the November 30th total of 364,610 shares. Based on an average daily volume of 256,747 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.9% of the shares of the stock are short sold. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily volume of 256,747 shares, the days-to-cover ratio is presently 2.0 days.

Hedge Funds Weigh In On Forge Global

A number of hedge funds have recently modified their holdings of FRGE. Millennium Management LLC increased its position in shares of Forge Global by 220.7% during the 3rd quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock worth $3,182,000 after purchasing an additional 129,559 shares during the last quarter. Bank of America Corp DE lifted its position in Forge Global by 442.4% in the third quarter. Bank of America Corp DE now owns 37,964 shares of the company’s stock valued at $642,000 after buying an additional 30,965 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Forge Global by 11.8% during the third quarter. Raymond James Financial Inc. now owns 111,006 shares of the company’s stock worth $1,876,000 after buying an additional 11,672 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Forge Global during the third quarter valued at about $488,000. Finally, 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 valued at $36,000 after acquiring an additional 1,613 shares during the last quarter. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Forge Global Price Performance

Shares of FRGE stock traded down $0.12 during trading on Tuesday, hitting $44.56. 108,594 shares of the stock traded hands, compared to its average volume of 193,184. Forge Global has a 52-week low of $6.60 and a 52-week high of $44.78. The firm has a market capitalization of $605.95 million, a P/E ratio of -8.57 and a beta of 2.17. The firm’s fifty day moving average price is $39.12 and its 200-day moving average price is $25.54.

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.