Forge Global Holdings, Inc. (NYSE:FRGE) Sees Large Growth in Short Interest

Forge Global Holdings, Inc. (NYSE:FRGE) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 3,340,000 shares, an increase of 18.4% from the February 13th total of 2,820,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 659,300 shares, the short-interest ratio is currently 5.1 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 159,108 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total value of $159,108.00. Following the sale, the executive now directly owns 604,728 shares in the company, valued at $604,728. This trade represents a 20.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kelly Rodriques sold 50,000 shares of Forge Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total value of $40,000.00. Following the sale, the chief executive officer now owns 8,030,213 shares in the company, valued at $6,424,170.40. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. 7.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Forge Global

A number of institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. purchased a new stake in Forge Global in the 4th quarter valued at approximately $409,000. ProShare Advisors LLC boosted its holdings in Forge Global by 51.3% in the 4th quarter. ProShare Advisors LLC now owns 32,807 shares of the company’s stock valued at $31,000 after purchasing an additional 11,126 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Forge Global during the 4th quarter worth approximately $37,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Forge Global in the 4th quarter worth approximately $32,000. Finally, Deutsche Bank AG increased its stake in Forge Global by 438.1% in the 4th quarter. Deutsche Bank AG now owns 245,790 shares of the company’s stock valued at $229,000 after purchasing an additional 200,110 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Trading Down 3.5 %

Shares of FRGE opened at $0.60 on Thursday. Forge Global has a twelve month low of $0.55 and a twelve month high of $3.56. The stock’s 50 day moving average is $0.79 and its two-hundred day moving average is $1.01. The firm has a market capitalization of $112.51 million, a PE ratio of -1.39 and a beta of 2.21.

Forge Global announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 5th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Forge Global Company Profile

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.