Forge Global Holdings, Inc. (NYSE:FRGE – Get Free Report) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 5,110,000 shares, a growth of 5.1% from the July 31st total of 4,860,000 shares. Based on an average trading volume of 416,700 shares, the short-interest ratio is currently 12.3 days. Approximately 4.7% of the company’s shares are sold short.
Forge Global Stock Down 8.5 %
FRGE stock opened at $1.40 on Tuesday. The company has a market cap of $253.46 million, a price-to-earnings ratio of -2.80 and a beta of 2.39. The business has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.71. Forge Global has a 52 week low of $1.17 and a 52 week high of $4.02.
Forge Global (NYSE:FRGE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Forge Global had a negative net margin of 96.65% and a negative return on equity of 27.75%. The firm had revenue of $22.28 million during the quarter, compared to analysts’ expectations of $20.24 million. During the same period in the prior year, the company earned ($0.12) EPS. As a group, analysts expect that Forge Global will post -0.34 earnings per share for the current fiscal year.
Insider Buying and Selling at Forge Global
Institutional Trading of Forge Global
A number of institutional investors have recently added to or reduced their stakes in FRGE. Abacus Wealth Partners LLC boosted its position in Forge Global by 107.3% in the 4th quarter. Abacus Wealth Partners LLC now owns 942,866 shares of the company’s stock valued at $3,234,000 after buying an additional 487,959 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Forge Global in the 4th quarter valued at about $134,000. Swiss National Bank purchased a new position in Forge Global in the 4th quarter valued at about $766,000. Virtu Financial LLC purchased a new position in Forge Global in the 4th quarter valued at about $289,000. Finally, Miracle Mile Advisors LLC purchased a new position in Forge Global in the 1st quarter valued at about $29,000. 40.67% of the stock is owned by hedge funds and other 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.
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