Analysts Set Forge Global Holdings, Inc. (NYSE:FRGE) PT at $36.00

Forge Global Holdings, Inc. (NYSE:FRGE) has been given an average rating of “Reduce” by the six brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $36.00.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On Forge Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new stake in shares of Forge Global in the 4th quarter worth about $6,308,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Forge Global during the 4th quarter valued at about $34,000. Invesco Ltd. bought a new stake in shares of Forge Global during the 4th quarter valued at about $312,000. Alberta Investment Management Corp bought a new stake in shares of Forge Global during the 4th quarter valued at about $470,000. Finally, Water Island Capital LLC bought a new stake in shares of Forge Global during the 4th quarter valued at about $8,782,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Stock Performance

FRGE opened at $45.00 on Tuesday. The company has a 50-day moving average of $44.93 and a 200-day moving average of $40.50. The company has a market capitalization of $623.03 million, a P/E ratio of -8.65 and a beta of 2.18. Forge Global has a 1-year low of $6.60 and a 1-year high of $45.03.

About Forge Global

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.