Forge Global Holdings, Inc. (NYSE:FRGE) Given Average Recommendation of “Hold” by Brokerages

Forge Global Holdings, Inc. (NYSE:FRGE) has been given an average rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $42.00.

Several research analysts have recently weighed in on FRGE shares. UBS Group downgraded shares of Forge Global from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $34.00 to $45.00 in a research report on Tuesday, November 11th. Citigroup reiterated a “market outperform” rating on shares of Forge Global in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Forge Global from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a report on Wednesday, October 8th. Finally, Piper Sandler downgraded Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price target on the stock. in a report on Thursday, November 6th.

Institutional Trading of Forge Global

A number of hedge funds have recently made changes to their positions in FRGE. Millennium Management LLC boosted its holdings in shares of Forge Global by 220.7% during the third quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock worth $3,182,000 after purchasing an additional 129,559 shares during the period. Bank of America Corp DE lifted its position in Forge Global by 442.4% in the 3rd quarter. Bank of America Corp DE now owns 37,964 shares of the company’s stock worth $642,000 after buying an additional 30,965 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Forge Global by 11.8% during the 3rd quarter. Raymond James Financial Inc. now owns 111,006 shares of the company’s stock valued at $1,876,000 after buying an additional 11,672 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Forge Global during the 3rd quarter valued at $488,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Forge Global by 303.8% in the third 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 last quarter. 40.67% of the stock is owned by hedge funds and other institutional investors.

Forge Global Price Performance

NYSE FRGE traded up $0.24 on Friday, hitting $44.30. 1,770,572 shares of the company were exchanged, compared to its average volume of 997,820. Forge Global has a twelve month low of $6.60 and a twelve month high of $44.76. The firm has a market capitalization of $602.52 million, a P/E ratio of -8.52 and a beta of 2.27. The company’s 50 day moving average price is $24.14 and its 200-day moving average price is $19.79.

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.