Forge Global’s (FRGE) “Market Perform” Rating Reiterated at Citizens Jmp

Citizens Jmp reiterated their market perform rating on shares of Forge Global (NYSE:FRGE) in a research note released on Friday morning, MarketBeat.com reports.

Several other research analysts have also recently commented on FRGE. UBS Group cut Forge Global from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $45.00 in a research note on Tuesday, November 11th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. Piper Sandler downgraded shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target for the company. in a research report on Thursday, November 6th. Finally, Citigroup lowered shares of Forge Global from an “outperform” rating to a “market perform” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.00.

Forge Global Price Performance

Shares of FRGE stock opened at $44.41 on Friday. The company’s fifty day moving average price is $32.46 and its two-hundred day moving average price is $23.03. The firm has a market capitalization of $603.91 million, a P/E ratio of -8.54 and a beta of 2.17. Forge Global has a 12 month low of $6.60 and a 12 month high of $44.76.

Institutional Investors Weigh In On Forge Global

A number of institutional investors have recently made changes to their positions in the company. CWM LLC lifted its stake in Forge Global by 27.8% during the third quarter. CWM LLC now owns 4,409 shares of the company’s stock worth $75,000 after purchasing an additional 960 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 worth $36,000 after purchasing an additional 1,613 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Forge Global during the second quarter worth $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 2,964 shares during the last quarter. Finally, Interval Partners LP boosted its holdings in shares of Forge Global by 1.2% in the 1st quarter. Interval Partners LP now owns 308,388 shares of the company’s stock valued at $173,000 after buying an additional 3,578 shares during the period. 40.67% of the stock is currently owned by institutional investors.

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.