Forge Global Holdings, Inc. (NYSE:FRGE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have earned an average rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.00.

FRGE has been the subject of a number of research analyst reports. UBS Group lowered Forge Global from a “buy” rating to a “neutral” rating and raised their price objective for the company 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 report on Friday, December 12th. Wall Street Zen raised Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Finally, Piper Sandler lowered shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Thursday, November 6th.

Institutional Trading of Forge Global

Hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC bought a new stake in shares of Forge Global in the 2nd quarter valued at approximately $728,000. Truist Financial Corp purchased a new stake in Forge Global during the 2nd quarter valued at $190,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Forge Global in the second quarter worth $47,000. ABC Arbitrage SA bought a new stake in Forge Global in the fourth quarter worth $4,213,000. Finally, Carlson Capital L.P. purchased a new position in Forge Global during the fourth quarter worth $691,000. 40.67% of the stock is currently owned by hedge funds and other institutional investors.

Forge Global Price Performance

Shares of FRGE opened at $44.63 on Thursday. The firm has a market cap of $618.17 million, a P/E ratio of -8.58 and a beta of 2.18. The company has a 50 day simple moving average of $44.57 and a two-hundred day simple moving average of $31.03. Forge Global has a 1 year low of $6.60 and a 1 year high of $44.88.

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.