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

Shares of Forge Global Holdings, Inc. (NYSE:FRGE) have earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $42.00.

FRGE has been the topic of a number of research analyst reports. Piper Sandler lowered shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Thursday, November 6th. UBS Group lowered Forge Global from a “buy” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $45.00 in a report on Tuesday, November 11th. Citizens Jmp reaffirmed a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. Wall Street Zen upgraded shares of Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Citigroup lowered shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th.

Hedge Funds Weigh In On Forge Global

Institutional investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Forge Global by 27.8% in the 3rd quarter. CWM LLC now owns 4,409 shares of the company’s stock valued at $75,000 after buying an additional 960 shares during the period. BNP Paribas Financial Markets lifted its holdings in Forge Global by 303.8% in the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after acquiring an additional 1,613 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in Forge Global in the second quarter valued at approximately $47,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Forge Global by 4.5% in the 1st 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 in the last quarter. Finally, Inscription Capital LLC acquired a new stake in shares of Forge Global during the 4th quarter worth approximately $273,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Forge Global Stock Up 0.1%

FRGE opened at $44.71 on Thursday. Forge Global has a 52-week low of $6.60 and a 52-week high of $44.88. The company has a market cap of $619.23 million, a P/E ratio of -8.60 and a beta of 2.18. The firm’s 50-day moving average price is $44.54 and its 200-day moving average price is $30.38.

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.