The price of Forge Global Holdings Inc. (NYSE:FRGE) shares last traded on Wall Street fell -17.54% to $2.35.
Based on available information, 6 analysts follow Forge Global Holdings Inc. (NYSE:FRGE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $7.00 and a low of $1.75, we find $2.08. Given the previous closing price of $2.85, this indicates a potential downside of -27.02 percent. FRGE stock price is now 31.82% away from the 50-day moving average and 39.00% away from the 200-day moving average. The market capitalization of the company currently stands at $381.52M.
Among analysts, 4 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $3.23 as their price target over the next twelve months.
In other news, Rodriques Kelly, Chief Executive Officer sold 50,202 shares of the company’s stock on Apr 19. The stock was sold for $76,508 at an average price of $1.52. Upon completion of the transaction, the Chief Executive Officer now directly owns 6,065,442 shares in the company, valued at $14.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 18, Chief Executive Officer Rodriques Kelly sold 19,466 shares of the business’s stock. A total of $30,881 was realized by selling the stock at an average price of $1.59. This leaves the insider owning 6,115,644 shares of the company worth $14.37 million. Insiders disposed of 276,440 shares of company stock worth roughly $0.65 million over the past 1 year. A total of 1.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FRGE stock. A new stake in Forge Global Holdings Inc. shares was purchased by MUFG AMERICAS HOLDINGS CORP during the first quarter worth $10,931,000. BALYASNY ASSET MANAGEMENT L.P. invested $187,000 in shares of FRGE during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Forge Global Holdings Inc. valued at approximately $161,000. JANE STREET GROUP, LLC acquired a new stake in FRGE for approximately $158,000. DIAMETRIC CAPITAL, LP purchased a new stake in FRGE valued at around $93,000 in the second quarter. In total, there are 55 active investors with 27.80% ownership of the company’s stock.
A candlestick chart of Forge Global Holdings Inc. (NYSE: FRGE) showed a price of $2.9000 on Wednesday morning. During the past 12 months, Forge Global Holdings Inc. has had a low of $1.10 and a high of $9.40. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 10.80, and a quick ratio of 10.80. The fifty day moving average price for FRGE is $1.8030 and a two-hundred day moving average price translates $1.6920 for the stock.
The latest earnings results from Forge Global Holdings Inc. (NYSE: FRGE) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at -$0.12, beating analysts’ expectations of -$0.14 by 0.02. This compares to -$0.98 EPS in the same period last year. The company reported revenue of $15.46 million for the quarter, compared to $19.89 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.27 percent. For the current quarter, analysts expect FRGE to generate $16.8M in revenue.
Forge Global Holdings Inc.(FRGE) Company Profile
Forge Global Holdings, Inc. operates a financial services platform in California. The company offers trading solution, a platform that connects investors with private company shareholders and enables them to efficiently facilitate private share transactions; and custody solution, which enables clients to securely custody and manage assets. It also provides data solutions that analyzes and makes investment decisions in the private market. Forge Global Holdings, Inc. founded in 2014 and is based in San Francisco, California.
