Forge Global (FRGE) Projected to Post Quarterly Earnings on Tuesday

Forge Global (NYSE:FRGE) is expected to be posting its quarterly earnings results before the market opens on Tuesday, March 25th. Analysts expect Forge Global to post earnings of ($0.09) per share and revenue of $20.75 million for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Forge Global Stock Performance

Shares of Forge Global stock opened at $0.61 on Friday. The firm has a market cap of $115.52 million, a PE ratio of -1.43 and a beta of 2.21. Forge Global has a 1 year low of $0.55 and a 1 year high of $3.56. The firm’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.00.

Forge Global announced that its board has authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Forge Global

In other news, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now owns 8,030,213 shares in the company, valued at $6,424,170.40. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jennifer Phillips sold 159,108 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total transaction of $159,108.00. Following the transaction, the executive now owns 604,728 shares in the company, valued at approximately $604,728. This trade represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. 7.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. restated an “underweight” rating on shares of Forge Global in a research report on Tuesday, January 7th.

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.