Forge Global (NYSE:FRGE) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Forge Global (NYSE:FRGEGet Rating) in a research note published on Thursday morning, Briefing.com reports. The firm issued a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler initiated coverage on Forge Global in a report on Tuesday, November 22nd. They issued a neutral rating and a $1.75 price objective on the stock. UBS Group initiated coverage on Forge Global in a research note on Wednesday, November 30th. They set a neutral rating and a $1.75 target price for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Forge Global currently has an average rating of Hold and a consensus price target of $4.50.

Forge Global Trading Up 1.7 %

FRGE stock opened at $1.75 on Thursday. Forge Global has a 12-month low of $1.26 and a 12-month high of $47.50. The business’s fifty day moving average price is $1.51 and its 200 day moving average price is $3.57.

Forge Global (NYSE:FRGEGet Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.09). The company had revenue of $15.90 million during the quarter, compared to analysts’ expectations of $17.11 million. As a group, equities analysts anticipate that Forge Global will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kimberley H. Vogel bought 30,303 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was purchased at an average cost of $1.65 per share, with a total value of $49,999.95. Following the purchase, the director now directly owns 54,303 shares of the company’s stock, valued at approximately $89,599.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Forge Global news, Director Kimberley H. Vogel acquired 30,303 shares of the stock in a transaction dated Friday, November 11th. The stock was acquired at an average cost of $1.65 per share, with a total value of $49,999.95. Following the transaction, the director now owns 54,303 shares in the company, valued at approximately $89,599.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberley H. Vogel acquired 33,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were acquired at an average cost of $1.51 per share, with a total value of $49,830.00. Following the completion of the transaction, the director now owns 33,000 shares in the company, valued at approximately $49,830. The disclosure for this purchase can be found here. 20.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. acquired a new position in shares of Forge Global during the 1st quarter worth about $28,000. Two Sigma Investments LP acquired a new stake in shares of Forge Global in the 3rd quarter valued at about $36,000. Clearstead Advisors LLC acquired a new stake in shares of Forge Global in the 3rd quarter valued at about $46,000. S&CO Inc. acquired a new stake in shares of Forge Global in the 3rd quarter valued at about $51,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Forge Global in the 3rd quarter valued at about $80,000. 13.68% of the stock is owned by institutional investors and hedge funds.

Forge Global Company Profile

(Get Rating)

Forge Global Holdings, Inc provides marketplace infrastructure, data services, and technology solutions for private market participants. It enables private company shareholders to trade private company shares with accredited investors. The company was founded in 2014 and is based in San Francisco, California.

Further Reading

Analyst Recommendations for Forge Global (NYSE:FRGE)

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