Forge Global Holdings, Inc. (NYSE:FRGE) Short Interest Down 8.2% in December

Forge Global Holdings, Inc. (NYSE:FRGE) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,810,000 shares, a decline of 8.2% from the December 15th total of 3,060,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 623,300 shares, the days-to-cover ratio is presently 4.5 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a report on Tuesday, January 7th.

Forge Global Trading Down 2.7 %

Shares of FRGE stock opened at $0.78 on Monday. Forge Global has a 1 year low of $0.70 and a 1 year high of $3.56. The stock has a 50 day simple moving average of $0.94 and a 200 day simple moving average of $1.20.

Forge Global (NYSE:FRGE) last released its earnings results on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%. The company had revenue of $19.22 million for the quarter, compared to the consensus estimate of $22.80 million. On average, equities research analysts expect that Forge Global will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kelly Rodriques sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.04, for a total transaction of $26,000.00. Following the completion of the sale, the chief executive officer now owns 8,153,110 shares in the company, valued at $8,479,234.40. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jennifer Phillips sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $1.28, for a total value of $64,000.00. Following the transaction, the executive now owns 968,497 shares in the company, valued at approximately $1,239,676.16. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,181 shares of company stock valued at $371,131 over the last 90 days. 9.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Forge Global

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Forge Global during the 3rd quarter worth approximately $32,000. The Manufacturers Life Insurance Company raised its position in Forge Global by 23.8% during the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after purchasing an additional 9,406 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Forge Global by 42.2% during the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after purchasing an additional 14,800 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Forge Global by 116.8% in the 4th quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock valued at $81,000 after purchasing an additional 46,700 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Forge Global in the 3rd quarter valued at $96,000. 40.67% of the stock is owned by institutional investors.

About Forge Global

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.