Forge Global’s (FRGE) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Forge Global (NYSE:FRGE) in a research report sent to investors on Tuesday morning, MarketBeat.com reports.

Forge Global Price Performance

NYSE:FRGE opened at $0.83 on Tuesday. The business’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.24. Forge Global has a fifty-two week low of $0.80 and a fifty-two week high of $3.56. The stock has a market capitalization of $153.60 million, a PE ratio of -1.93 and a beta of 2.33.

Forge Global (NYSE:FRGE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. The company had revenue of $19.22 million during the quarter, compared to the consensus estimate of $22.80 million. On average, research analysts expect that Forge Global will post -0.37 earnings per share for the current year.

Insider Buying and Selling at Forge Global

In other news, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the completion of the transaction, the chief executive officer now directly owns 8,476,028 shares of the company’s stock, valued at $11,273,117.24. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jennifer Phillips sold 25,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $1.14, for a total transaction of $28,500.00. Following the completion of the sale, the executive now directly owns 854,581 shares in the company, valued at approximately $974,222.34. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 354,181 shares of company stock valued at $397,631 in the last 90 days. 9.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Forge Global

A number of large investors have recently modified their holdings of the business. Barclays PLC boosted its position in Forge Global by 278.5% during the third quarter. Barclays PLC now owns 150,241 shares of the company’s stock valued at $197,000 after purchasing an additional 110,549 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Forge Global by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,619,886 shares of the company’s stock worth $3,433,000 after purchasing an additional 18,913 shares in the last quarter. State Street Corp boosted its holdings in shares of Forge Global by 1.2% in the 3rd quarter. State Street Corp now owns 2,263,898 shares of the company’s stock valued at $2,966,000 after buying an additional 25,833 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Forge Global by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,837 shares of the company’s stock valued at $1,265,000 after buying an additional 36,913 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Forge Global in the third quarter valued at $96,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

Forge Global Company Profile

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.