Short Interest in Forge Global Holdings, Inc. (NYSE:FRGE) Declines By 8.2%

Forge Global Holdings, Inc. (NYSE:FRGE) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,810,000 shares, a decline of 8.2% from the December 15th total of 3,060,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 623,300 shares, the short-interest ratio is presently 4.5 days.

Insider Buying and Selling

In related news, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total transaction of $40,000.00. Following the sale, the chief executive officer now owns 8,030,213 shares of the company’s stock, valued at approximately $6,424,170.40. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jennifer Phillips sold 25,000 shares of Forge Global stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.14, for a total value of $28,500.00. Following the transaction, the executive now owns 854,581 shares in the company, valued at approximately $974,222.34. This represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 354,181 shares of company stock valued at $371,131 over the last three months. Company insiders own 9.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Forge Global during the 3rd quarter worth approximately $32,000. The Manufacturers Life Insurance Company grew its stake in shares of Forge Global by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock valued at $72,000 after buying an additional 9,406 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Forge Global by 42.2% during the second quarter. Renaissance Technologies LLC now owns 49,900 shares of the company’s stock worth $73,000 after buying an additional 14,800 shares during the last quarter. Miracle Mile Advisors LLC raised its position in Forge Global by 116.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 86,700 shares of the company’s stock worth $81,000 after acquiring an additional 46,700 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Forge Global during the third quarter worth $96,000. Institutional investors own 40.67% of the company’s stock.

Forge Global Stock Down 2.7 %

Shares of NYSE FRGE opened at $0.78 on Monday. The company has a fifty day moving average price of $0.94 and a 200 day moving average price of $1.20. Forge Global has a 1-year low of $0.70 and a 1-year high of $3.56.

Forge Global (NYSE:FRGE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. The firm had revenue of $19.22 million for the quarter, compared to analyst estimates of $22.80 million. As a group, sell-side analysts forecast that Forge Global will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Forge Global in a research report on Tuesday, January 7th.

About Forge Global

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.