Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Expands By 5.1%

Forge Global Holdings, Inc. (NYSE:FRGE) 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) 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

In other Forge Global news, CEO Kelly Rodriques sold 65,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $1.42, for a total value of $92,300.00. Following the completion of the transaction, the chief executive officer now directly owns 10,115,551 shares in the company, valued at approximately $14,364,082.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Forge Global news, CEO Kelly Rodriques sold 65,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $1.42, for a total value of $92,300.00. Following the completion of the transaction, the chief executive officer now directly owns 10,115,551 shares in the company, valued at approximately $14,364,082.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Drew Sievers sold 24,051 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1.30, for a total value of $31,266.30. Following the sale, the chief operating officer now owns 832,444 shares of the company’s stock, valued at $1,082,177.20. The disclosure for this sale can be found here. In the last three months, insiders sold 727,452 shares of company stock worth $1,000,345. Insiders own 9.84% of the company’s stock.

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.