Forge Global Holdings, Inc. (NYSE:FRGE) Receives $42.00 Average PT from Analysts

Forge Global Holdings, Inc. (NYSE:FRGE) has earned an average recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $42.00.

FRGE has been the topic of several recent research reports. Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Finally, Citizens Jmp reissued a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th.

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $45.00 on Friday. The business’s fifty day moving average price is $44.80 and its two-hundred day moving average price is $37.05. The stock has a market cap of $623.03 million, a PE ratio of -8.65 and a beta of 2.18. Forge Global has a one year low of $6.60 and a one year high of $45.03.

Hedge Funds Weigh In On Forge Global

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Forge Global during the fourth quarter worth approximately $34,000. Meteora Capital LLC purchased a new position in shares of Forge Global during the 4th quarter worth $46,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Forge Global during the 4th quarter worth $76,000. BNP Paribas Financial Markets boosted its holdings in shares of Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock worth $36,000 after purchasing an additional 1,613 shares during the last quarter. Finally, PenderFund Capital Management Ltd. acquired a new stake in shares of Forge Global during the fourth quarter worth $102,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Company Profile

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.