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

Forge Global Holdings, Inc. (NYSE:FRGE) has been given an average recommendation of “Reduce” by the six analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.00.

Several research analysts have weighed in on the stock. Citizens Jmp reissued a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. Citigroup cut Forge Global from an “outperform” rating to a “market perform” rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forge Global in a research report on Thursday, January 22nd.

Forge Global Stock Performance

NYSE FRGE opened at $45.00 on Friday. The stock has a market cap of $623.03 million, a PE ratio of -8.65 and a beta of 2.18. The firm has a 50-day moving average of $44.79 and a 200-day moving average of $36.59. Forge Global has a 52-week low of $6.60 and a 52-week high of $45.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Forge Global by 305.0% in the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after purchasing an additional 146,565 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Forge Global by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after purchasing an additional 2,964 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Forge Global during the second quarter worth about $47,000. Raymond James Financial Inc. acquired a new stake in Forge Global during the second quarter worth about $1,891,000. Finally, Valeo Financial Advisors LLC bought a new position in Forge Global in the 2nd quarter valued at about $728,000. 40.67% of the stock is owned by institutional investors and hedge funds.

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.