Forge Global (NYSE:FRGE) Stock Price Down 0.1% – Here’s Why

Forge Global Holdings, Inc. (NYSE:FRGE)’s stock price traded down 0.1% during trading on Monday . The company traded as low as $44.64 and last traded at $44.6650. 85,594 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 124,612 shares. The stock had previously closed at $44.70.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FRGE. Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Citizens Jmp reissued a “market perform” rating on shares of Forge Global in a research report on Friday, December 12th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler lowered shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.

Forge Global Trading Down 0.1%

The company has a 50-day simple moving average of $44.52 and a 200 day simple moving average of $30.09. The company has a market cap of $618.61 million, a P/E ratio of -8.59 and a beta of 2.18.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in Forge Global by 303.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after buying an additional 1,613 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Forge Global during the second quarter valued at approximately $47,000. CWM LLC boosted its holdings in shares of Forge Global by 27.8% in the third quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after purchasing an additional 960 shares during the period. Inscription Capital LLC purchased a new stake in shares of Forge Global in the fourth quarter valued at approximately $273,000. Finally, Composition Wealth LLC bought a new position in Forge Global in the fourth quarter worth approximately $286,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

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.