Forge Global (NYSE:FRGE) Hits New 1-Year High – Here’s Why

Forge Global Holdings, Inc. (NYSE:FRGE)’s share price reached a new 52-week high on Monday . The company traded as high as $44.78 and last traded at $44.6850, with a volume of 34229 shares changing hands. The stock had previously closed at $44.69.

Analyst Ratings Changes

FRGE has been the topic of a number of analyst reports. UBS Group lowered shares of Forge Global from a “buy” rating to a “neutral” rating and upped their target price for the stock from $34.00 to $45.00 in a report on Tuesday, November 11th. Wall Street Zen raised Forge Global from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler downgraded shares of Forge Global from an “overweight” rating to a “neutral” rating and set a $45.00 target price for the company. in a report on Thursday, November 6th. Citizens Jmp restated a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. Finally, Citigroup downgraded shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Forge Global Price Performance

The firm has a fifty day simple moving average of $38.01 and a two-hundred day simple moving average of $25.14. The firm has a market capitalization of $607.80 million, a P/E ratio of -8.60 and a beta of 2.17.

Institutional Trading of Forge Global

A number of hedge funds have recently bought and sold shares of FRGE. Millennium Management LLC lifted its holdings in shares of Forge Global by 220.7% in the 3rd quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock worth $3,182,000 after acquiring an additional 129,559 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Forge Global by 442.4% in the third quarter. Bank of America Corp DE now owns 37,964 shares of the company’s stock worth $642,000 after purchasing an additional 30,965 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Forge Global by 11.8% in the 3rd quarter. Raymond James Financial Inc. now owns 111,006 shares of the company’s stock worth $1,876,000 after buying an additional 11,672 shares during the period. Two Sigma Investments LP bought a new stake in shares of Forge Global in the 3rd quarter worth approximately $488,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Forge Global by 303.8% during the third quarter. BNP Paribas Financial Markets now owns 2,144 shares of the company’s stock valued at $36,000 after buying an additional 1,613 shares during the period. Institutional investors own 40.67% of the company’s stock.

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.