Forge Global (NYSE:FRGE) Receives Underweight Rating from JPMorgan Chase & Co.

Forge Global (NYSE:FRGE)‘s stock had its “underweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Tuesday, MarketBeat reports.

Forge Global Stock Performance

Shares of FRGE stock opened at $0.77 on Tuesday. Forge Global has a one year low of $0.76 and a one year high of $3.56. The firm’s 50 day moving average price is $1.00 and its 200-day moving average price is $1.23. The firm has a market cap of $141.53 million, a P/E ratio of -1.78 and a beta of 2.33.

Forge Global (NYSE:FRGE) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $19.22 million for the quarter, compared to analysts’ expectations of $22.80 million. Forge Global had a negative return on equity of 29.04% and a negative net margin of 95.85%. As a group, research analysts predict that Forge Global will post -0.37 EPS for the current fiscal year.

Insider Transactions at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 50,000 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $1.28, for a total value of $64,000.00. Following the sale, the executive now owns 968,497 shares of the company’s stock, valued at $1,239,676.16. This trade represents a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kelly Rodriques sold 25,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $1.04, for a total value of $26,000.00. Following the transaction, the chief executive officer now directly owns 8,153,110 shares of the company’s stock, valued at approximately $8,479,234.40. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 354,181 shares of company stock valued at $397,631. 9.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Forge Global

A number of hedge funds and other institutional investors have recently modified their holdings of FRGE. SG Americas Securities LLC purchased a new position in Forge Global in the third quarter valued at $32,000. Norden Group LLC purchased a new position in shares of Forge Global in the 2nd quarter valued at about $53,000. The Manufacturers Life Insurance Company raised its position in shares of Forge Global by 23.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,008 shares of the company’s stock worth $72,000 after acquiring an additional 9,406 shares in the last quarter. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 14,800 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Forge Global in the third quarter valued at approximately $96,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.

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.