Forge Global (NYSE:FRGE) Announces Earnings Results

Forge Global (NYSE:FRGE) released its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01, Zacks reports. Forge Global had a negative net margin of 95.85% and a negative return on equity of 29.04%.

Forge Global Stock Down 4.8 %

Shares of NYSE:FRGE traded down $0.04 during trading on Wednesday, reaching $0.85. 520,121 shares of the company traded hands, compared to its average volume of 613,748. Forge Global has a 52 week low of $0.70 and a 52 week high of $3.56. The firm has a market capitalization of $158.02 million, a PE ratio of -1.97 and a beta of 2.30. The company’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.07.

Insider Activity

In other news, CRO Jennifer Phillips sold 159,108 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total transaction of $159,108.00. Following the completion of the transaction, the executive now owns 604,728 shares of the company’s stock, valued at approximately $604,728. The trade was a 20.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kelly Rodriques sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total transaction of $40,000.00. Following the completion of the sale, the chief executive officer now owns 8,030,213 shares in the company, valued at approximately $6,424,170.40. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 235,508 shares of company stock worth $226,508. 9.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.