Forge Global (FRGE) Projected to Post Earnings on Tuesday

Forge Global (NYSE:FRGE) is anticipated to release its earnings data 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. Persons interested in listening to the company’s earnings conference call can do so using this link.

Forge Global Stock Performance

Forge Global stock opened at $0.61 on Monday. The company has a market capitalization of $115.52 million, a PE ratio of -1.43 and a beta of 2.21. Forge Global has a fifty-two week low of $0.55 and a fifty-two week high of $3.56. The firm has a 50 day moving average price of $0.78 and a 200 day moving average price of $1.00.

Forge Global declared that its board has authorized a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Kelly Rodriques sold 50,000 shares of the company’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 sale, the chief executive officer now directly owns 8,030,213 shares in the company, valued at approximately $6,424,170.40. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jennifer Phillips sold 159,108 shares of Forge Global 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 transaction, the executive now owns 604,728 shares of the company’s stock, valued at $604,728. This represents a 20.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.22% of the company’s stock.

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.