Forge Global (NYSE:FRGE) Sees Strong Trading Volume – Should You Buy?

Forge Global Holdings, Inc. (NYSE:FRGE) saw an uptick in trading volume on Wednesday . 357,925 shares were traded during mid-day trading, an increase of 87% from the previous session’s volume of 191,259 shares.The stock last traded at $44.4650 and had previously closed at $44.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FRGE shares. Citigroup lowered shares of Forge Global from an “outperform” rating to a “market perform” rating in a research report on Friday, December 12th. Citizens Jmp reiterated a “market perform” rating on shares of Forge Global in a report on Friday, December 12th. UBS Group downgraded Forge Global from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $34.00 to $45.00 in a report on Tuesday, November 11th. Wall Street Zen upgraded Forge Global from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Forge Global in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

Forge Global Price Performance

The firm has a 50-day simple moving average of $33.59 and a 200 day simple moving average of $23.46. The company has a market capitalization of $604.86 million, a PE ratio of -8.55 and a beta of 2.18.

Institutional Trading of Forge Global

Several large investors have recently bought and sold shares of FRGE. BNP Paribas Financial Markets lifted its position 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 worth $36,000 after purchasing an additional 1,613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Forge Global by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,888 shares of the company’s stock worth $39,000 after buying an additional 2,964 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in Forge Global in the 2nd quarter worth $47,000. CWM LLC boosted its position in 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 last quarter. Finally, AQR Capital Management LLC boosted its position in Forge Global by 305.0% in the 1st quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock valued at $109,000 after buying an additional 146,565 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

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.