Forge Global (FRGE) Projected to Post Earnings on Tuesday

Forge Global (NYSE:FRGE) is projected to post its quarterly earnings results before the market opens on Tuesday, March 25th. Analysts expect Forge Global to post earnings of ($0.09) per share and revenue of $20.75 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Forge Global Stock Performance

Shares of NYSE:FRGE opened at $0.58 on Tuesday. The business’s 50 day simple moving average is $0.79 and its two-hundred day simple moving average is $1.02. The firm has a market cap of $108.37 million, a P/E ratio of -1.34 and a beta of 2.21. Forge Global has a 52-week low of $0.55 and a 52-week high of $3.56.

Forge Global declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 5th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Forge Global

In related news, CRO Jennifer Phillips sold 159,108 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 604,728 shares of the company’s stock, valued at approximately $604,728. This trade represents a 20.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $0.80, for a total value of $40,000.00. Following the sale, the chief executive officer now directly owns 8,030,213 shares of the company’s stock, valued at $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. Insiders sold a total of 210,508 shares of company stock valued at $200,508 over the last ninety days. 7.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Forge Global in a 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.