Forge Global (NYSE:FRGE) Hits New 12-Month High – What’s Next?

Forge Global Holdings, Inc. (NYSE:FRGE)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $44.99 and last traded at $44.9850, with a volume of 370 shares changing hands. The stock had previously closed at $44.81.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FRGE. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a research note on Friday, December 12th. UBS Group lowered Forge Global from a “buy” rating to a “neutral” rating and lifted their price target for the company from $34.00 to $45.00 in a report on Tuesday, November 11th. Finally, Citigroup downgraded Forge Global from an “outperform” rating to a “market perform” rating in a report on Friday, December 12th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Forge Global currently has a consensus rating of “Reduce” and an average target price of $42.00.

Forge Global Stock Up 0.4%

The company has a market cap of $623.32 million, a price-to-earnings ratio of -8.66 and a beta of 2.18. The business has a 50-day simple moving average of $44.64 and a two-hundred day simple moving average of $33.30.

Hedge Funds Weigh In On Forge Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meteora Capital LLC bought a new position in shares of Forge Global in the fourth quarter valued at approximately $46,000. Longfellow Investment Management Co. LLC acquired a new position in Forge Global in the 4th quarter valued at $76,000. BNP Paribas Financial Markets raised its holdings in Forge Global by 303.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock worth $36,000 after acquiring an additional 1,613 shares during the period. PenderFund Capital Management Ltd. bought a new position in Forge Global in the 4th quarter worth $102,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in Forge Global during the 2nd quarter worth $47,000. Institutional investors and hedge funds 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.